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Investigators allege that two bank subsidiaries pursued high-risk customers and that the firm relied on inadequate AML controls.
Law firm Clifford Chance, engaged by Swedbank AB to investigate possible money-laundering via two bank subsidiaries, alleges that Swedbank Estonia and Swedbank Latvia, the Swedbank AB subsidiaries, “actively pursued” high-risk customers. While the law firm’s investigation did not conclude that the bank “engaged in money laundering or processed customer transactions that constituted the proceeds of...
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