Archive · 15 Jan 2026
US DOJ Closes Swedbank Probe
The US Department of Justice has closed its investigation into Swedbank, a big bank in Sweden, without taking any action against them.
This investigation was about whether the bank followed the rules to stop money laundering.
Another investigation by the New York Department of Financial Services is still ongoing.
Earlier, the Securities and Exchange Commission also finished their investigation without taking any further action.
Swedbank has been under scrutiny for a long time because of problems with their anti-money laundering controls in the Baltic countries.
The bank was fined a lot of money by Swedish authorities in 2020.
The former CEO of Swedbank was also found guilty of making misleading statements and was sentenced to 15 months in prison, but she is appealing this decision.
This all started because of a big scandal involving several Nordic banks and a lot of suspicious money from the former Soviet Union.
The US Department of Justice closed its investigation into Swedbank without enforcement action.
An investigation by the New York Department of Financial Services is still ongoing.
The Securities and Exchange Commission concluded its probe into Swedbank in September 2023 without further action.
Swedbank was fined 4 billion Swedish kronor by Swedish authorities in 2020 for breaching anti-money laundering rules.
Former CEO Birgitte Bonnesen was sentenced to 15 months in prison in 2024 for disseminating misleading statements, with an appeal pending.
- Who
- Swedbank AB, US Department of Justice, New York Department of Financial Services, Securities and Exchange Commission, Birgitte Bonnesen
- What
- Closure of US DOJ investigation into Swedbank, ongoing investigation by NYDFS, SEC investigation conclusion, fine imposed by Swedish authorities, former CEO's conviction
- When
- US DOJ investigation closed (date not specified), SEC investigation concluded in September 2023, fine imposed in 2020, former CEO sentenced in 2024
- Where
- United States (US DOJ and SEC), Sweden (Swedish authorities), New York (NYDFS)
- Why
- Investigation into Swedbank's handling of anti-money laundering controls in its Baltic operations, scrutiny into past failures related to anti-money laundering and counter-terrorism financing, and shortcomings in information disclosure
- Bank
- Swedbank AB
- Investigation Closed By
- US Department of Justice
- Ongoing Investigation
- New York Department of Financial Services
- SEC Investigation Conclusion
- September 2023
- Fine Imposed by Swedish Authorities
- 4 billion Swedish kronor (2020)
- Former CEO's Sentence
- 15 months (2024, appeal pending)
- Scandal Duration
- 2007-2015
- Scandal Amount
- $230 billion