February 15, 2018 / 7:19 AM / 10 days ago

BRIEF-Bank of Lithuania issues warning to Swedbank after inspection

Feb 15 (Reuters) - Swedbank AB:

* BANK OF LITHUANIA ISSUES INSPECTION FINDINGS ON SWEDBANK

* SWEDBANK SAYS DURING AUTUMN 2017, THE BANK OF LITHUANIA HAS CARRIED OUT AN INSPECTION RELATED TO SWEDBANK’S ACTIVITIES IN THE AREA OF MONEY LAUNDERING AND TERRORISM FINANCING PREVENTION(AML/CTF) FOR THE PERIOD JANUARY 2016 UNTIL MARCH 2017

* SWEDBANK SAYS FINDINGS INCLUDE DEFICIENCIES IN INTERNAL CONTROL SYSTEMS FOR MONEY LAUNDERING PREVENTION, PROCESSES AND DOCUMENTATION

* SWEDBANK SAYS BASED ON THE RESULTS, BANK OF LITHUANIA ISSUED A WARNING TO SWEDBANK AND OBLIGED TO REMEDY IDENTIFIED DEFICIENCIES

* SWEDBANK SAYS DEFICIENCIES POINTED OUT BY BANK OF LITHUANIA, HAS PARTLY ALREADY BEEN CORRECTED

* SWEDBANK SAYS A WARNING IS THE LOWEST LEVEL OF SANCTION THAT THE BANK OF LITHUANIA CAN ISSUE Source text: here Further company coverage: (Stockholm Newsroom)

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