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Anti Money Laundering and Counter Terrorist Financing

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Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) are prioritised focus areas within Swedbank Group. Financial institutions must be able to identify and understand risks of money laundering and terrorist financing in order to apply preventive measures.

As criminals may use financial services in order to launder the proceeds of and fund their criminal activities, proper Know-Your-Customer (KYC) practices are central, and the knowledge of the customer provides a basis for understanding the general activities in which a customer usually would be expected to engage. Furthermore, as a bank, we are required to detect unusual and suspicious activities and to determine whether a specific customer is included on different listings of sanctions. 

In light of our changing environment, it is of great importance that financial institutions continually evaluate the strength and relevance of their existing policies, procedures and employee training programs and, if necessary, update them to address these changes.

Money laundering and terrorism not only harm the whole society but can also damage the stability and reputation of the financial sectors. It is obviously in the financial industries’ and society's best interests that financial institutions take all reasonable measures to prevent money laundering and terrorist financing.

Swedbank has adopted a Policy on prevention of money laundering and countering terrorist financing that requires all parts of the Swedbank Group to develop and implement effective programs to comply with applicable laws. 
Swedbank is a member of the SWIFT’s Know Your Customer Registry (KYC Registry) and we would be grateful if you could use the KYC Registry to gather due diligence information and data on our Bank. If you have further questions please contact kyc.inquiries@swedbank.com

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