Featured Sweden

Danske Bank has deficiencies in its anti-money laundering work

Danske Bank has not sufficiently assessed the risk of how the bank’s products and services in Sweden may be used for money laundering and terrorist financing. Danske Bank must therefore rectify these deficiencies no later than June 30, 2022. Read the full press release by the Swedish Financial Supervisory Authority… Read More

Police in Europe Bust International Investment Fraud Network

By Zdravko Ljubas, OCCRP, 14 September 2021 OCCRP — Several European nations’ law enforcement agencies collaborated last week to disrupt the operations of a criminal gang perpetrating large-scale investment fraud, costing 55 million euro (US$64.96 million) in damages to a “significant number” of victims across Europe. An unknown number… Read More

Former Ericsson Employee Charged in Foreign Bribery Scheme

A former Ericsson AB employee was charged in the U.S. of taking part in a conspiracy to bribe foreign officials in order to win a contract from Djibouti’s state-owned phone company. Prosecutors in New York charged Afework Bereket with conspiring to violate the Foreign Corrupt Practices Act… Read More
3rd August 2021
Nearly 15 years after the death of the former Chilean dictator Gen. Augusto Pinochet, victims of his brutal regime are still trying to hold him and his associates accountable. And now the victims appear to be one step closer to justice — even if the courtroom is on the… Read More
27th May 2021
That anonymous shell companies are the vehicle of choice for the corrupt and criminals is no longer a secret. New cases of cross-border corruption and money laundering are reported almost on a weekly basis, where perpetrators often hide behind secretive corporate structures. The European Union has been lauded for its… Read More
6th May 2021
Swedish lender Swedbank has been fined 46.6 million Swedish crowns ($5.50 million) by the Nasdaq Stockholm for shortcomings in the bank’s anti-money laundering controls between December 2016 and February 2019, the bank said on Wednesday. “During the last year, the bank has undertaken several measures to strengthen processes for the… Read More
4th May 2021
Authorities in Germany managed to take down one of the world’s biggest child sex abuse platforms following a large-scale investigation which led to several arrests in mid-April, a police statement confirmed on Monday. The platform “Boystown” was active since at least June 2019 and had a… Read More
28th April 2021
For a decade, Bitcoin Fog has offered to obscure the source and destination of its customers’ cryptocurrency, making it one of the most venerable institutions in the dark web economy. Now the IRS says it has finally identified the Russian-Swedish administrator behind that long-running anonymizing system and charged him with… Read More
25th February 2021
Swedbank said on Thursday it had resolved not to file claims for damages against its former top executive and board for the fiscal year 2019, when the Swedish banking group came under investigation over money-laundering breaches in the Baltics. The lender’s share price collapsed by a third in 2019 as… Read More
7th January 2021
A new way to pay is causing existential angst among Swedish bankers who worry that the e-krona, an electronic equivalent of Sweden’s currency, could cost them their deposit base. Sweden launched a review into the e-krona’s feasibility in December after a pilot programme at the central bank, making the Nordic… Read More
29th December 2020
Swedbank has frozen the accounts of a Belarusian state-owned spa in Lithuania’s southern town of Druskininkai. Ilya Epifanov, head of the Belorus sanatorium, says he has already turned to Lithuanian institutions, asking them for a possibility to pay his employees, the majority of whom are Lithuanian citizens. Epifanov told BNS… Read More
16th December 2020
The Department of Justice (DOJ) and FBI are investigating SEB, Swedbank and Danske Bank over possible breaches of U.S. anti-money laundering regulations and fraud, Swedish newspaper Dagens Industri reported on Tuesday, sending the banks’ shares lower. Sweden had received requests for help from U.S. authorities investigating a Baltic money-laundering scandal… Read More
Compliance professionals in many large organizations are faced with a dilemma: is it possible to maintain the clarity of a single global compliance policy while still complying with the increasingly divergent local laws? Read More