Financial crime is a threat to all of society, and it constantly seeks new ways to exploit banks and bank customers. This is why crime prevention is a vital part of our business.
Although there are no perfect systems, we work relentlessly to strengthen our defences and develop our abilities to detect, prevent and report suspected activity. Every year we report thousands of suspicious transactions to authorities and we cooperate closely with authorities, police and other banks.
Digitalisation is affecting every aspect of banking. Stability and reliability of the bank’s IT platform is therefore crucial. Interruptions or any kind of breaches into the systems can cause major problems, both for customers, suppliers and employees.
Awareness among employees is key in our efforts to prevent crime. Our employees are essential to detect irregularities – be it with the help of computer systems or through interaction with people. We add resources in this field continuously, educating our employees and keeping our customers informed, investing in new technology, improving the know-your-customer processes and developing our transaction monitoring.
Money laundering is the illegal process of criminals trying to make funds made from unlawful activity seem to have been generated legitimately. This poses a threat not just to banks, but to the entire financial system, democracy and society as a whole.
The Swedish Financial Coalition Against Child Pornography project started already in 2008 and is now part of a permanent activity.
Banks play a key role in combating money laundering, a global threat. SEB joined forces with Swedish police and banks in 2020 through SAMLIT to strengthen anti-money laundering efforts.
The Code of Conduct describes SEB’s way of working and guides us in our business relationships.
SEB has a whistleblowing process for reporting irregularities. If an employee or other person should discover possible unethical or unlawful behaviour, they should report their observations.
SEB has strict guidelines towards unethical influence, whether within business or society.
As a part of our normal business behaviour, SEB fights money laundering and terrorist financing.