Reported by Dominic Chopping

Swedbank has been cleared of money laundering by Estonian prosecutors, ending a years-long probe into the Swedish bank. 

Swedbank had been under investigation for governance deficiencies related to anti-money laundering measures in its Baltic subsidiaries after a Swedish TV show reported in 2019 that billions of dollars of potentially illicit funds might have passed through the bank’s Estonian branch. 

The Estonian State Prosecutor’s Office had been investigating whether money was laundered within Swedbank’s Estonian subsidiary between 2014 and 2016, but it has found that no crime was committed.

Read full report: https://www.morningstar.com/news/dow-jones/202402297352/swedbank-cleared-of-money-laundering-by-estonian-prosecutor