SEB receives remark and administrative fine of SEK 1 billion

SEB receives a remark and must pay an administrative fine of SEK 1 billion for deficiencies in its work to prevent money laundering risks.

FI's investigation shows that SEB's subsidiary banks in the Baltics have been exposed to an elevated risk of money laundering. This is due in part to their geographic location but also because customers with a higher risk of money laundering have represented a substantial portion of the subsidiary banks' business volumes and transactions.

FI makes the assessment that the bank's deficiencies during the period under investigation have meant that the bank did not comply with the requirements laid down by law, and SEB is therefore receiving a remark and an administrative fine of SEK 1 billion.

FI also investigated how SEB's Swedish operations complied with the requirements set out in the anti-money laundering regulatory framework. In this matter, FI has ordered the bank to take certain actions to improve the monitoring of transactions.

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