Featured Sweden

In bed with a dictator’s daughter — again

By Ola Westerberg, Joachim Dyfvermark and Sven Bergman, OCCRP, 16 September 2020 OCCRP – The tall Swede was insistent as he spoke to journalists and analysts in his characteristically deep, rumbling voice: “I have said it before and I will repeat it: TeliaSonera did not bribe anyone.” Lars Nyberg,… Read More

The Quiet Man in Stockholm Who Laundered China’s Oil Money for Iran

By Martin Young, Kelly Bloss, Šarūnas Černiauskas, Jason Papakheli, Aparna Surendra, Eric Barrett, and Roshanak Taghavi (OCCRP) and Joachim Dyfvermark and Linda Larsson Kakuli (SVT) OCCRP –By all outward appearances, Hatam Khatoun Nema was a small-time money changer working from a nondescript office in Järfälla, a workaday Stockholm suburb. Read More

Bankers who profited from Nordic hiring boom now in firing line

A few years ago, the biggest banks in one of the richest corners of the globe were adding thousands of jobs to a department that suddenly seemed more important than most others: compliance. But with headcount growing more than 10-fold in some cases, those same jobs are now at risk. Read More
30th June 2020
Estonian banks need to develop and improve their Anti-Money Laundering (AML) processes, including by having smarter know-your-client systems, the Bank of Estonia says, following a €1 million the Financial Supervisory Authority (FSA) imposed on the Scandinavian-owned SEB Pank on Thursday. This would be made easier by legislative changes and more… Read More
29th June 2020
Sweden’s financial supervisory authority fined Skandinaviska Enskilda Banken AB 1 billion Swedish kronor ($107.3 million) following a delayed review of the bank’s efforts to prevent money laundering at Baltic branches. The regulator, known as the Finansinspektionen, was investigating the bank’s anti-money-laundering governance and controls in Estonia, Latvia and Lithuania. Read More
3rd June 2020
US authorities said on Monday that they had extradited a former Chinese official from Sweden to Los Angeles to face charges of money laundering and immigration fraud. The US Department of Justice (DOJ) said it took Qiao Jianjun into custody on Friday for, among other charges, allegedly conspiring to commit… Read More
28th May 2020
The bank at the center of Sweden’s biggest money-laundering scandal says illegal transactions are probably still flowing through the financial system, because existing tools to stop them aren’t good enough. Swedbank AB, which was fined over $400 million in March for failing to halt suspicious flows, has now… Read More
15th May 2020
Several former employees of Swedbank AB were charged by authorities in Latvia with money laundering after its branch there reported suspicious transactions involving large sums of cash as recently as 2017. Latvian prosecutors filed allegations against 11 people, including ex-employees of Swedbank’s local unit, earlier this year, Laura Majevska,… Read More
14th May 2020
Venezuela’s opposition-held congress plans to voice concern to the U.S. government over its removal of sanctions on Swedish refiner Nynas AB after Venezuela’s state-run oil company, Petroleos de Venezuela, sold most of its stake in the firm, three people with knowledge of the matter said. Nynas said on Tuesday that… Read More
30th April 2020
At times it can seem as if Swedbank’s recent history has been taken from the plot of a Nordic noir novel. There is a procedural bleakness to the Swedish bank’s money laundering scandal and a complexity to it all that does little to resolve the moral ambiguities of institutional malfeasance. Read More
29th April 2020
By Sanne Wass, S&P Global Market Intelligence, 27 April 2020 Read more at S&P Global Market Intelligence Photo (cropped and edited): Finn Årup Nielsen [CC BY-SA 3.0] RiskScreen: Eliminating Financial Crime with Smart Technology… Read More
24th April 2020
Swedbank (SWEDa.ST) on Thursday reported its first quarterly loss since 2009, hit by coronavirus-related credit losses and a record fine for poor anti-money laundering controls. The Swedish bank faces the prospect of a large bill to address its money laundering issues, while grappling with the economic downturn caused by… Read More
9th April 2020
Swedbank (SWEDa.ST) will report its first quarterly loss since 2009, as it braces for both coronavirus-related credit losses and a fine for poor anti-money laundering controls, the Swedish bank said on Wednesday. The lender was hit with a record 4 billion crown fine in Sweden on March 19 when… Read More