The Swedish Financial Supervisory Authority (FSA) has initiated an investigation to determine whether Swedbank's customer verification processes are sufficient to meet national requirements for preventing the legalization of illegally acquired funds. This investigation will cover the period from December 2023 to November 2025 and will focus on the bank's mechanisms for control and reliability verification procedures. The FSA stated that addressing the risks of money laundering and terrorism financing is a priority for its operations in 2026.

While the FSA did not clarify whether this investigation is a routine measure or prompted by suspicions of violations, the announcement indicates a keen scrutiny of Swedbank's practices. Swedbank has referred all inquiries regarding the investigation to the FSA, indicating their cooperation in this matter. The context of this scrutiny follows a prior investigation by the U.S. Department of Justice regarding potential money laundering practices, which was closed in January without any penalties, suggesting ongoing concerns about the bank's compliance and risk management frameworks.

This investigation reflects the heightened regulatory environment surrounding financial institutions in Sweden, particularly regarding anti-money laundering efforts. The FSA's focus on verification and control processes will likely play a significant role in shaping future regulatory expectations and the operational practices of banks like Swedbank, emphasizing the importance of rigorous compliance in combating financial crimes.