Swedbank faces new AML compliance probe in Sweden

Sweden’s financial regulator has initiated a review into Swedbank’s compliance with anti-money-laundering (AML) regulations, focusing on whether the bank’s customer vetting processes were adequate, reported Reuters. In a statement to Retail Banker International, the Financial Supervisory Authority (FSA) said: "The investigation covers the bank’s measures to obtain and maintain adequate customer due diligence." The probe will assess Swedbank’s due diligence measures from December 2023 through November 20 ...