{"id":307130,"date":"2026-07-27T22:59:09","date_gmt":"2026-07-27T22:59:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/307130\/"},"modified":"2026-07-27T22:59:09","modified_gmt":"2026-07-27T22:59:09","slug":"swedbank-settles-new-york-charges-in-panama-papers-probe","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/307130\/","title":{"rendered":"Swedbank Settles New York Charges in Panama Papers Probe"},"content":{"rendered":"<p>The settlement resolves a DFS investigation into Swedbank\u2019s compliance with New York banking law, which was sparked by the 2016 Panama Papers leak, and the bank\u2019s failure to cooperate fully with requests for information during that investigation, DFS said in a July 16\u00a0<a href=\"https:\/\/www.dfs.ny.gov\/reports_and_publications\/press_releases\/pr20260716\" rel=\"nofollow noopener\" target=\"_blank\">press release<\/a>.<\/p>\n<p>\u201cFinancial institutions have a legal obligation to comply with New York\u2019s laws and regulations designed to protect the integrity of the financial system,\u201d Acting Superintendent\u00a0<a href=\"https:\/\/www.dfs.ny.gov\/About_Us\" rel=\"nofollow noopener\" target=\"_blank\">Kaitlin Asrow<\/a> said in the release. \u201cThe Department holds institutions accountable to ensure they meet their obligations and cooperate fully with the Department\u2019s oversight.\u201d<\/p>\n<p>Swedbank said\u00a0in\u00a0a July\u00a016\u00a0<a href=\"https:\/\/www.swedbank.com\/newsroom\/press-releases.details.settlement-with-dfs-%E2%80%93-all-investigations-of-historical-shortcomings-concluded.F58522A2E4EBB154.html\" rel=\"nofollow noopener\" target=\"_blank\">press release<\/a>\u00a0that the settlement with DFS covers its failure to disclose information to the authority on two occasions, in 2016 and 2018, and concludes all investigations into the bank\u2019s \u201chistorical shortcomings.\u201d<\/p>\n<p>Investigations began in 2019 and were conducted in the United States,\u00a0Sweden\u00a0and Estonia. They concerned Swedbank\u2019s efforts to prevent money laundering and terrorist financing as well as the disclosure of information between 2007 and 2019, according to the release.<\/p>\n<p><a href=\"https:\/\/www.swedbank.com\/sv\/about-swedbank\/management-and-corporate-governance\/the-board-of-directors\/photos-and-cvs\/goran-persson.html\" rel=\"nofollow noopener\" target=\"_blank\">G\u00f6ran Persson<\/a>,\u00a0chairman\u00a0of the board of directors at Swedbank, said in the release: \u201cAll investigations into the bank\u2019s historical shortcomings have been concluded. Swedbank can now devote full focus to customers, developing the\u00a0business\u00a0and delivering shareholder value.\u201d<\/p>\n<p><a href=\"https:\/\/www.swedbank.com\/about-swedbank\/management-and-corporate-governance\/ceo-and-group-executive-management\/photos-and-cvs\/jens-henriksson.html\" rel=\"nofollow noopener\" target=\"_blank\">Jens Henriksson<\/a>, president and CEO of Swedbank, said in the release: \u201cThe DFS investigation has involved conduct from almost a decade ago. We can now put it behind us.\u201d<\/p>\n<p>It was reported in March 2019 that in the wake of\u00a0<a href=\"https:\/\/www.pymnts.com\/cybersecurity\/2019\/regulators-investigate-swedbank-money-laundering\/\" rel=\"nofollow noopener\" target=\"_blank\">money laundering<\/a>\u00a0scandals, DFS alerted Swedbank in February 2019 that it was looking into seven different cases at the bank.<\/p>\n<p>That report came on the same day that prosecutors in Sweden raided Swedbank, hours after it was revealed that the bank had handled money coming from non-residents in high-risk countries,\u00a0mainly from\u00a0Russia, via its Estonian branch over the previous 10 years.<\/p>\n","protected":false},"excerpt":{"rendered":"The settlement resolves a DFS investigation into Swedbank\u2019s compliance with New York banking law, which was sparked by&hellip;\n","protected":false},"author":2,"featured_media":307131,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[116212,96754,15780,9,11,10,12,31826,116213,31827],"class_list":["post-307130","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-aml","tag-fraud-prevention","tag-money-laundering","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-news","tag-pymnts-news","tag-swedbank","tag-whats-hot"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/307130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=307130"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/307130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/307131"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=307130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=307130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=307130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}