Sweden’s financial regulator has opened a review into whether Swedbank carried out sufficient customer checks to comply with national anti-money-laundering rules, marking renewed scrutiny of the lender shortly after the closure of a U.S. investigation.
The country’s Financial Supervisory Authority (FSA) said the probe will assess the bank’s customer due diligence measures between December 2023 and November 2025. The review will focus on how effectively the bank verified and monitored client information as part of its obligations to prevent money laundering and terrorist financing.
In a statement, the FSA said countering financial crime remains a priority for its supervision in 2026, underscoring the importance of robust “know your customer” procedures across the banking sector. The regulator did not specify whether the review was routine or triggered by concerns about possible violations.
Swedbank declined to comment directly, referring questions about the inquiry to the regulator.
Shares in the bank fell about 1.3% in early trading, underperforming the broader European banking index, which was modestly higher.
The new review comes weeks after the U.S. Department of Justice closed its own investigation into alleged money laundering linked to Swedbank, ending the probe without imposing a fine. That earlier scrutiny was connected to a Baltic financial scandal that first emerged at Danske Bank and drew attention to potential cross-border compliance failures in the region.
While the Swedish regulator has not alleged wrongdoing, the move signals continued regulatory focus on the bank’s internal controls as European authorities seek to strengthen safeguards against illicit financial flows.