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STOCKHOLM — Swedbank said Monday that it has reached a final settlement with the U.S. Treasury’s Office for Foreign Assets Control regarding the bank’s past shortcomings in preventing money laundering, agreeing to pay 37 million Swedish kronor ($3.5 million).
The settlement concerns transactions that were conducted by Swedbank in Latvia in 2015-16 and were reported by Swedbank to OFAC in 2020. The transactions consisted of salary payments and payments that were associated with the operation of a vessel whose owner and operator…
