SEB's Settlement in New York Puts an End to US Scrutiny
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SEB settles years-old Baltic money laundering case with hefty payment. Swedish banking group SEB has reached an agreement with US financial regulators to end its investigation into historical money laundering practices at its Baltic business units. The bank will pay $33 million to end the investigation, while the US Department of Justice has closed its case without further sanctions. Banking, finance, financing, Money laundering, Finance, Sweden.
Major bank SEB has reached an agreement in New York, ending US authorities' investigations into the bank's historical processes.
The US authorities' review of SEB's anti-money laundering measures has been concluded. The bank will pay approximately SEK 330 million to New York's financial regulator DFS, while the US Department of Justice closes its review without taking any action.
Major bank SEB has reached an agreement in New York, which concludes US authorities' reviews of the bank's historical processes. The agreement means that SEB will pay a total of 33 million dollars (just over 328 million kronor) to the financial authority DFS in New York, the bank writes in a press release. This after DFS reviewed the then routines, controls and processes for customer knowledge and transactions in the Baltic operations during 201…
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