SEB pays $33 million to New York regulator over Baltic money laundering review
SEB pays $33 million to New York regulator over Baltic money laundering review OSLO, Oct 15 (Reuters) - Swedish bank SEB SEBa.ST said on Thursday it has agreed to pay $33 million to the New York State Department of Financial Services (DFS) following a review of the bank's anti-money laundering procedures in the Baltic region from 2015 to 2019.
The review concerned SEB's "former procedures and processes for customer due diligence and transaction monitoring in its Baltic operations", the bank said in a statement
The US Department of Justice (DOJ) has also concluded its review, without taking any action, and with this the US matters relating to the historical anti-money laundering measures have been concluded, SEB said in a statement
SEB's cost will be recognised in the fourth-quarter operating expenses, and is expected to have a limited financial impact
The full-year cost target remains unchanged, it added
(Reporting by Terje Solsvik, editing by Anna Ringstrom )
((terje.solsvik@thomsonreuters.com; +47 918 666 70;))
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