Chopping – Financial Treason & Crime

Swedbank Fined $5.5 million by Nasdaq Stockholm

Dominic Chopping, 05 May 2021

STOCKHOLM–Swedbank AB said Wednesday that it has been ordered to pay 46.6 million Swedish kronor ($5.5 million) by Nasdaq Stockholm’s disciplinary committee for anti-money laundering shortcomings.

“The disciplinary committee states that Swedbank over a long period of time had shortcomings in its AML processes and routines and that the shortcomings were known to the bank’s former top management for a long period of time,” the bank said.

The fine, for breaching Nasdaq rules on disclosure of information, relates to the period between December 2016 and February 2019. Continue reading “Article: Swedbank Fined $5.5 million by Nasdaq Stockholm”

DNB to Be Fined $48.1 Million for Anti-Money-Laundering Inadequacies

Dominic Chopping, 03 May 2021

DNB AS A on Monday confirmed that Norway’s financial supervisory authority, Finanstilsynet, will impose a fine of 400 million Norwegian kroner ($48.1 million) for inadequate compliance with anti-money-laundering rules and legislation.

Norway’s largest lender said in December that the fine was a possibility. It has already recorded the fine in its annual accounts for 2020.

Finanstilsynet has also published a report on investigations into Samherji, an Icelandic fisheries company that had been accused of money-laundering and corruption. Continue reading “Article: DNB to Be Fined $48.1 Million for Anti-Money-Laundering Inadequacies”