Sweden’s financial watchdog has launched a new anti-money laundering probe into Swedbank, examining the lender’s customer due diligence processes from December 2023 through November 2025. The Financial Supervisory Authority (FSA) said the review will focus on the bank’s controls and due-diligence procedures, marking a fresh regulatory challenge shortly after the conclusion of a U.S. Department of Justice investigation.

This new Swedish probe comes as Swedbank shares fell 0.3% in early trading. The FSA emphasized that combating money laundering and terrorist financing remains a priority in its 2026 supervision agenda. The regulator did not specify whether the review was routine or triggered by specific concerns, though it follows the January closure of the U.S. money-laundering investigation without penalty.

Swedbank has been under regulatory scrutiny since 2019 over its historical anti-money laundering practices, stemming from the broader Baltic scandal involving Danske Bank’s Estonian branch where roughly €200 billion in suspicious funds flowed between 2007 and 2015. The lender previously paid a record 4 billion crown fine in 2020 for serious AML control shortcomings. Former CEO Birgitte Bonnesen was convicted of gross fraud in 2024 for misleading statements and sentenced to 15 months in prison, with her case currently under appeal.