February 21, 2019 / 2:42 PM / a year ago

Swedbank initiates external review of money laundering report

STOCKHOLM (Reuters) - Swedish bank Swedbank said on Thursday it was appointing audit firm EY to carry out an external investigation after a media report linked the bank to a Baltic money laundering scandal involving Danske Bank.

“Preventing and averting money laundering is one of the bank’s most important responsibilities. Therefore, I have given EY a broad mandate to independently and thoroughly investigate the information that was presented on the TV program,” Swedbank CEO Birgitte Bonnesen said in a statement.

The bank also said EY would also have the opportunity to request additional material from Swedbank as part of its probe.

Reporting by Niklas Pollard; Editing by Simon Johnson

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