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

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By Reuters

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

“As the inspection revealed signs of a criminal offence, Finantsinspektsioon decided to abandon sanction proceedings in favour 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.

(Reporting by Tarmo Virki; editing by Simon Johnson)