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The US Department of Justice has closed its investigation into Swedbank AB without filing an enforcement action. This decision brings a nearly seven-year money-laundering probe involving the Swedish lender closer to a conclusion. The investigation stems from the massive Danske Bank scandal, where billions in suspicious funds flowed through its Estonian branch between 2007 and 2015. Swedbank was implicated as a key conduit for these illicit flows. While the bank has already paid significant fines to US and Swedish authorities, the DOJ’s closure removes a major legal overhang for the company.
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