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Swedbank and its New York branch have agreed to pay a $50 million penalty to settle an investigation that found the institution failed to provide regulators with critical information about relationships linked to the Panama Papers leak. The inquiry determined that the bank did not carry out adequate due diligence on shell companies associated with customers identified in the leak and repeatedly failed to fully comply with official requests for information concerning its ties

Sweden’s financial regulator, Finansinspektionen, has announced a formal investigation into Swedbank over suspected shortcomings in customer due diligence procedures during a two-year period ending in 2025. The supervisory authority is examining whether the bank maintained adequate internal safeguards to prevent its systems from being misused by criminal organizations. The probe underscores the pivotal responsibility large retail banks bear in shielding the wider financial sy