Tuesday, October 20, 2020

Swedbank Cuts Ties With Customers Suspected of Money Laundering

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Swedbank AB has cut ties with an undisclosed number of customers who are at the center of money-laundering allegations against the Stockholm-based lender, according to a third-party audit published Friday.  The Swedish bank commissioned the audit last month following a report by Swedish television station SVT that said 50 customers with ties to a $230 billion Danske Bank A/S money-laundering scandal moved $5.8 billion through Swedbank between 2007 and 2015.

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