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‘FinCEN’ leaks show suspect transactions at Swedish bank SEB

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About 8.2 billion Swedish crowns ($919 million) in suspicious funds may have flowed through Swedish bank SEB between 2007 and 2016, Swedish Television (SVT) reported on Wednesday.

It cited documents linked to media reports on Sunday that were based on suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

“The information that (SVT’s) Uppdrag Granskning presents in its programme does not contain any news for the bank,” SEB said in a statement, referring to investigations it carried out in connection to the fine it received this year.

SEB was fined 1 billion crowns by Sweden’s financial watchdog in June for failures in compliance and governance in relation to anti-money laundering controls in the Baltics.

It is unclear whether the transactions reported by SVT are known to the Swedish FSA or covered in its previous investigation. The FSA told Reuters it was reviewing the SVT report and would comment later.

The FinCEN leaks reported by media on Sunday showed several global banks moved large sums of allegedly illicit funds over a period of nearly two decades despite red flags about the origins of the money.

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