Swedbank admits to possibly breaking US sanctions

The large Swedish bank has possibly broken some US sanctions by engaging in money laundering in the Baltics.

Photo: Tt News Agency/Reuters/Ritzau Scanpix

Through its money laundering activity in the Baltics, Swedbank has possibly broken US sanctions, a message from the CEO reads.

This comes after an examination of the case by international legal firm Clifford Chance. The bank has therefore contacted the US authority Office of Foreign Assets Control, OFAC, which is part of the country's Treasury Department.

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