Sweden’s Financial Supervisory Authority (FSA) has launched an inquiry into Swedbank’s adherence to Anti-Money Laundering (AML) regulations from December 2023 through November 2025.

In light of this development, the FSA announced it would scrutinize whether Swedbank met AML requirements during a two-year period, focusing on customer due diligence measures.

The investigation will assess how Swedbank conducted customer checks in compliance with Swedish AML regulations. The FSA stated that countering money laundering and terrorist financing remains a critical area of oversight for 2026, though it did not clarify if the inquiry was routine or prompted by potential wrongdoing.

Background on AML Scrutiny

According to Reuters, this latest regulatory action follows the closure of a separate investigation by the US Department of Justice (DOJ), which had examined alleged money laundering at Swedbank. That probe concluded in January 2026 without resulting in a fine and was part of a broader Baltic ML scandal initially exposed at Danske Bank.

Previously, Swedbank faced significant regulatory and legal repercussions due to its operations in the Baltic region. The current FSA investigation now centers on more recent compliance processes and customer verification methods—a cornerstone of AML frameworks across EU member states under various AML Directives.

The FSA’s focus on customer due diligence highlights a broader trend in European regulation, where supervisors intensify scrutiny over how financial institutions identify, validate, and monitor their customers to prevent the misuse of the financial system for illicit activities. For Swedbank, this new domestic investigation underscores ongoing efforts to strengthen its compliance infrastructure despite the resolution of major international probes.