HALISTER1: Swedbank to Mitigate Identified Deficiencies in Latvia

Swedbank to Mitigate Identified Deficiencies in Latvia

(Bloomberg) -- Swedbank says during spring of 2016 the Financial and Capital Market Commission in Latvia carried out an inspection related to the effectiveness of Swedbank’s internal control systems for the prevention of money laundering.
  • Findings include deficiencies in internal control systems, processes and documentation
  • Swedbank agreement with Latvian authorities includes fine of EU1.36m and a series of mitigating actions
  • Says Latvia is raising standards for money laundering control
  • Swedbank is currently implementing series of measures aimed at improving its internal control systems
Statement
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SWEDA SS (Swedbank AB)

To de-activate this alert, click here

UUID: 7947283