Internal 2018 Swedbank report shows billions in ‘suspicious’ Baltic transfers

epa07309983 Swedbank branch in Tallinn, Estonia 22 January 2019. EPA-EFE/Valda Kalnina

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Swedish state television SVT reported that in September,  an internal Swedbank report showed that between 2007-2015 some $10 billion of transactions between suspicious customers of Swedbank and Danske Bank in the Baltics .

This is more than double the number SVT reported previously.

In Swedbank said the amount  referred to the gross amount of transactions between the two banks reviewed in its initial analysis and that following the review it took action where suspicious activity was identified, including reporting activities to the police.

Several European and overseas banks have been dragged into a scandal at Denmark’s Danske Bank, which centres on suspicious transactions totalling 200 billion euros originating in Russia and elsewhere that flowed through its Estonian branch between 2007 and 2015.

The bank  is the subject of a joint probe by Swedish and Estonian financial watchdogs after an SVT report in February revealed that is involved in at least 40 billion Swedish crowns of suspicious transactions through Denmark’s largest bank.

In it’s reaction to the latest report by SVT, Swedbank said it had shared its internal report, which covers about 2,000 customers throughout the Baltic countries, with the Swedish watchdog.
Via Reuters


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