The FSA has also decided to issue SEB an administrative fine of SEK 1bn, which corresponds to about 14 percent of the maximum amount the FSA can impose in this case, as well as a precept to take certain measures to improve its transaction monitoring.
“SEB will now analyse the decision and revert with the bank’s view. We always strive to adhere to current regulations and our high internal standards, and we continuously develop the bank’s abilities to prevent, detect and report suspected money laundering and other types of financial crime. That work is of highest priority and will never end, not least since crime constantly finds new ways”, says President and CEO Johan Torgeby.
The Swedish FSA has conducted its reviews in cooperation with the Baltic supervisory authorities. All Swedish and Baltic supervisory authorities have hereby concluded their reviews regarding SEB’s anti-money laundering work.
This is information that Skandinaviska Enskilda Banken AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 15.30 CET, on 25 June 2020.
SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. On March 31, 2020, the Group's total assets amounted to SEK 3,286 billion while its assets under management totalled SEK 1,758 billion. The Group has around 15,000 employees. Read more about SEB at https://www.sebgroup.com.