Sweden fines two biggest banks for money laundering
Sweden's top financial authority has fined the country's two biggest banks for negligence in doing their work and failing to prevent money laundering.
The country’s Financial Supervisory Authority (FSA) announced on Tuesday a fine of 50 million kronor (5.4 million euros, USD 6 million) for Nordea while Handelsbanken was fined 35 million kronor (3.7 million euros, USD 4.2 million), AFP reported.
"Nordea has not complied with the money laundering rules for several years. The bank has not evaluated the risks associated with various customer groups and in some cases has been unaware of whether they actually have high risk customers," the FSA said in a statement.
It added that the bank’s behavior meant "that if people have tried to launder money … they could have done so without Nordea having been able to detect this. This is very serious."
FSA noted that the violations at Handelsbanken were less serious. Therefore, while the FSA handed down a warning on Nordea, it gave Handelsbanken a "remark."
"Handelsbanken has not complied with the money laundering rules in several areas," the authority said, adding, "These deficiencies are significant and mean that Handelsbanken ran a high risk of being used by people to launder money."
According to the FSA, sums amounting to more than 100 billion kronor (10.8 billion euros, USD 12 billion) are laundered in Sweden every year.
SS/SS
Oil slightly down ahead of OPEC+ decision
Crude prices fall on possible ceasefire in Lebanon
Breaking up Google an option being considered by US, report shows
Pakistani military conducts airstrikes on militant hideouts in eastern Afghanistan
VIDEO | Displaced settlers frustrated
VIDEO | Christmas: Time for peace
Turkey will bury Syria’s Kurdish militia if they fail to disarm: Erdogan
VIDEO | Christmas in Syria: Hope amidst uncertainty
Israel attacks eastern Lebanon for first time since ceasefire
‘Christ under rubble’: Christians in Gaza mark another Christmas amid genocide
Iran’s president extends condolences to Azerbaijan’s Aliyev over plane crash
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
