"Swedbank AB has had serious shortcomings in the work to counter money laundering risks in its Baltic operations," Finansinspektionen writes in its reasoning for the decision.
The sanction amount of SEK 4 billion received by Swedbank is a historically large sum. But it's not customers who will have to pay, says Jens Henriksson.
- In the end, it is the owners who have to pay, because the bank's value decreases, says Jens Henriksson.
In March 2019, one month after the disclosure, Swedbank's then CEO Birgitte Bonnesen was forced out of his post. Jens Henriksson took over as CEO in August in the same year.
See the interview with Swedbank's CEO Jens Henriksson in the video player above.