Skip to content

Dirty-Money Ties Worried Some at Swedbank While Bosses Kept Mum

  • Emails, accounts suggest bankers suspected laundering breaches
  • Ex-CEO was told in 2018 that exposure was “not looking good”
Updated on

In the summer of 2018, a senior anti money-laundering official at Swedbank AB appeared anxious as he read reports that its competitor Danske Bank A/S could be fined by U.S. authorities for alleged crimes in the Baltics.

“I’m afraid that if they are sentenced, we will be in focus,” he wrote in an email to then-Chief Compliance Officer Cecilia Hernqvist. She replied: “Fingers crossed.”