Swedbank Faces FSA Investigation Over Anti-Money Laundering Controls

Sweden’s Financial Supervisory Authority (FSA) has launched an investigation into Swedbank’s compliance with anti-money laundering (AML) and counter-terrorism financing regulations, confirming the probe on February 21, 2026. Reuters first reported the investigation, which will scrutinize the bank’s internal controls and due diligence procedures.

Investigation Details

The FSA investigation will cover the period from December 2023 to November 2025. Global Banking and Finance Review highlights that the review focuses on whether Swedbank’s customer checks met the country’s anti-money laundering rules. The regulator emphasized that addressing the risks of money laundering and terrorist financing is a priority for its supervision in 2026.

FSA’s Stance and Swedbank’s Response

The FSA has not indicated whether the investigation is a routine measure or was prompted by specific suspicions of wrongdoing. Yahoo Finance reports that Swedbank has deferred all questions regarding the investigation to the FSA.

Follows U.S. Department of Justice Probe

This investigation follows the conclusion of a U.S. Department of Justice (DOJ) investigation into alleged money laundering at Swedbank, which was closed in January without any penalties. Reuters notes that the DOJ probe was linked to a money laundering scandal in the Baltic states that initially surfaced at Danske Bank.

Market Reaction

Shares in Swedbank fell 1.3% at 0845 GMT on February 20, 2026, underperforming the European banking index, which was up 0.4%. Global Banking and Finance Review reported this market reaction.

Key Takeaways

• Sweden’s FSA is investigating Swedbank’s AML compliance for the period of December 2023 to November 2025.
• The investigation follows the closure of a U.S. DOJ probe without penalties.
• Swedbank has referred all inquiries to the FSA.
• The FSA prioritizes combating money laundering and terrorist financing in 2026.