What happened
Sweden's largest bank was fined $33 million by New York's financial regulator for anti-money laundering deficiencies at its Baltic subsidiaries, which exposed U.S. banks to increased financial crime risk.
What compliance teams should check
- Review AML controls for exposure to Baltic subsidiaries
- Assess correspondent banking relationships with Swedish banks
- Update risk assessments for AML deficiencies in counterparties
FOR COMPLIANCE TEAMS
Catch stories like these on your own customers.
complead screens your customers against adverse media, sanctions and PEP lists, and re-checks them every day. When a name you hold turns up in the news, it lands in your case queue with the evidence attached.
New York's financial services regulator has ordered Sweden's largest bank to pay a $33 million fine to resolve findings of past anti-money laundering deficiencies at its Baltic subsidiaries that allegedly exposed U.S. banks to heightened financial-crimes risk.Law360, 15 Oct 2026, 11:55 UTC, law360.com