Swedbank, one of the largest banks in Sweden, has hired professionals services firm EY to investigate the bank’s possible involvement in large scale money laundering. According to media reports in Sweden, over the period of nearly ten years the bank facilitated approximately $5.8 billion worth of suspicious transactions. The transactions… – Continue reading
Denmark’s top lender, Danske Bank, played an “organised” role in a Russian money-laundering scam, French prosecutors have said. The Tribunal de Grande Instance de Paris said the bank’s branch in Estonia helped to move €15 million of “money from organised fraud and tax evasion” in Russia into France and other… – Continue reading
By 2013, Banque Cramer knew it had a problem. With just SFr2bn of client money, the 300-year-old Swiss private bank was too small to weather the radical changes sweeping through its industry, reports Financial Times. Extra regulatory and compliance demands were driving up costs. Big advantages that traditionally helped Swiss… – Continue reading
