SEB agrees to pay US$33M to the New York State DFS to resolve a review of its historical CDD and transaction-monitoring processes in its Baltic operations between 2015 – 2019

Under the agreement, SEB will pay US$33M to resolve the DFS review, which identified deficiencies in its former AML processes. The DFS acknowledged the bank’s cooperation and remediation measures. US DoJ has concluded its separate review without taking action, closing the US authorities’ reviews of SEB’s historical AML measures. SEB says it has since strengthened its financial-crime controls through updated…