Nordic banking giant Swedbank has announced it will not file claims for damages against its former top executive and board after it came under investigation for money-laundering breaches in the Baltics in 2019.
Following this review, the Swedish bank’s share price tumbled by a third in 2019, and the bank was fined 4 Billion Swedish crowns ($484 Million) in March 2020 for serious deficiencies in its anti-money laundering framework.