The findings include deficiencies in internal control systems for money laundering prevention, processes and documentation. Based on the results, Bank of Lithuania issued a warning to Swedbank and obliged to remedy identified deficiencies.

-Swedbank takes the findings by Bank of Lithuania very seriously. We would like to emphasize that AML and CTF is a prioritised matter for Swedbank. We are allocating significant efforts and resources to ensure AML/CTF compliance and we are committed to continuously improve our AML/CTF processes, says Charlotte Elsnitz, Head of Baltic Banking at Swedbank.

Swedbank has already initiated actions to implement a series of measures aiming to improve its internal control systems, to ensure relevant customer due diligence data and to enhance processes and routines. And thereby, the deficiencies pointed out by Bank of Lithuania, has partly already been corrected.

A warning is the lowest level of sanction that the Bank of Lithuania can issue.

For more information:
Josefine Uppling, Head of Group Press Office, Swedbank, cell: +46 76 114 54 21