April 2, 2019 / 1:59 PM / 3 months ago

Swedbank says will fully co-operate with Estonian FSA

TALLINN (Reuters) - The Estonian financial watchdog’s inspection at the country’s Swedbank branch had been previously agreed upon , a spokeswoman for the bank said on Tuesday.

“The FSA in Estonia has been begun an inspection, it was previously agreed upon. Swedbank will co-operate fully,” a Swedbank Estonia spokeswoman said.

She said the inspection was ongoing but that it would have no impact on the bank’s daily operations.

Swedbank is embroiled in a fast-growing money laundering scandal involving Danske Bank, which revealed last year that its Estonian branch was used to move 230 billion euros ($258 billion) of suspicious payments between 2007 and 2015.

Reporting by Tarmo Virki, Editing by Johan Ahlander

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