Wednesday, October 28, 2020

Swedish bank off the hook on Magnitsky money-laundering

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Sweden’s financial authority, the EBM, has said it will not pursue criminal proceedings against Swedish lender Swedbank over €157m of Russian money allegedly laundered there because the alleged crime took place prior to tighter due diligence laws imposed in 2014 and after a five-year statute of limitations had expired. The case was brought by the former employer of a Russian whistleblower in the case, Sergei Magnitsky, who died in prison.

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