- Swedbank

Swedbank Settles DFS Probe for $50M, Ends AML Investigations Swedbank has settled with the New York State Department of Financial Services (DFS) for USD 50 million due to failures in disclosing information in 2016 and 2018. This concludes all investigations into Swedbank's historical shortcomings, which began in 2019 and involved operations in Sweden, Estonia, and the U.S. The investigations focused on anti-money laundering and terrorist financing efforts from 2007 to 2019. The settlement amount will be recorded as a cost in the third quarter. Swedbank aims to focus on customer service and business development moving forward.