The European Central Bank (ECB) is looking into Swedbank’s Estonian operations, Swedish daily Dagens Nyheter reported on Wednesday, citing an undisclosed source.
Sweden is not part of the eurozone but Estonia is and that means Swedbank’s Estonian subsidiary falls under ECB supervision.
The ECB wants to know how well Swedbank’s Estonian subsidiary kept itself informed about its customers, the paper said, citing the source.
Swedbank has come under heavy criticism from politicians and investors over allegations that its Baltic operations processed billions of dollars of transactions allegedly linked to Russian money laundering.
The scandal has led to Swedbank’s CEO and chairman leaving and the launch of several regulatory investigations into the bank.