How we prevent financial crime
SEB works long-term and in a structured way to minimise the risk of us being used for criminal purposes. This includes money laundering attempts, cyber-attacks, sabotage, intrusion attempts, crime and financing of terrorism.
Banks are no law enforcement agencies, but we do everything we can to prevent, detect and report suspicious activities. We have the highest standards for corporate governance, compliance and risk management. We welcome the strengthened collaboration between financial regulators, banks and other actors within the financial system to combat money laundering and other types of financial crime, and we constantly intensify our efforts to go beyond the current rules and regulations.
We have mandatory and recurring training of all our employees, we invest in new technology, and we have a constant and transparent dialogue with financial supervisory authorities on all markets where we operate.
That being said, financial crime is a moving target, with the whole purpose of financial criminals to hide both their assets and the purposes of their actions. SEB works, through the Swedish Bankers’ Association, for more cooperation between banks, within the financial sector, with authorities, and across national borders to increase our resilience against these threats.Read more about how we prevent financial crime