Estonian FSA says found signs of criminal offense in Swedbank AML inspection

TALLINN (Reuters) – Estonia’s Financial Supervision and Resolution Authority (Finantsinspektsioon) said on Monday it had found signs of a criminal offense at Swedbank’s Estonia unit during its anti-money laundering inspection.

“As the inspection revealed signs of a criminal offense, Finantsinspektsioon decided to abandon sanction proceedings in favor of criminal proceedings,” it said in a statement.

On Oct 29, Estonia’s financial regulator said it had decided to open a sanctions process with regard to Swedbank Estonia.

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