2019.11.27 17:00

SEB bank allegedly serviced Russian proxies linked to money laundering

LRT.lt2019.11.27 17:00

Swedish public broadcaster (SVT) reported on Wednesday that SEB bank serviced clients in Estonia associated with Russian money laundering, according to Reuters.

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

SVT revealed a list of 194 SEB bank clients in Estonia, which showed some 2,000 transactions and contained "red flags". According to Reuters, these were names associated with proxies for Russian non-resident companies suspected of money laundering.

Sweden’s SEB confirmed in a press release on November 19 that the majority of 194 clients on the list submitted by SVT 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.

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