2019.11.19 15:57

Baltic customers named in money laundering suspicions at SEB bank

LRT.lt2019.11.19 15:57

Swedish investigative journalists, who are looking into suspicions of money laundering, have submitted to the Baltic banking group SEB a list with 194 people, the company has announced.

A new banking scandal is brewing in the Baltics, as the Swedish public broadcaster is due to release an investigation alleging that SEB bank was involved in money laundering.

According to BNN, Sweden’s SEB confirmed in a press release on Tuesday they have received the list and that the majority of the names are former customers in Estonia. In 2006, SEB Estonia received criticism and recommendations from the Estonian financial supervisory authority for its handling of non-resident customers, SEB wrote.

At the same time, SEB received information from an external whistle-blower. Both of these events resulted in that SEB Estonia strengthened its routines, reported a number of clients to the finance police and terminated several customer relations, the company explained.

SEB in Sweden also said that “the names on the list from Sveriges Television have previously been handled and approximately 95 percent of the customer relations are terminated”.

Read more: SEB bank shares drop following money laundering suspicions in Baltics

The story appeared at BNN and was edited for brevity by LRT English