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'Difficult day' as Swedbank HQ raided on Wednesday (Photo: Arild Vagen)

Swedish bank joins list of EU dirty money scandals

Swedish lender Swedbank handled €135bn of dodgy money in recent years, leaked documents say, in a second scandal of vast proportions in the EU banking sector.

It handled the money via its Estonian branch between 2008 and 2018, according to its own internal audit, which was seen by Swedish public broadcaster SVT and revealed on Wednesday (27 March).

It also failed to observe anti money-laundering due diligence on what were mostly Russian clients, the audit said.

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

'Difficult day' as Swedbank HQ raided on Wednesday (Photo: Arild Vagen)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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