Op risk data: Outsourcing losses loom in lockdown

Also: Swedbank hit with huge AML fine; record Russia fine for StanChart. Data by ORX News


Jump to In focus: outsourcing | Spotlight: Italy loan fines

March’s largest loss was Skr4 billion ($382.5 million) incurred in anti-money laundering fines for Swedbank. The lender succumbed to failures in processes and controls in its Estonian, Latvian and Lithuanian subsidiaries. Swedish watchdog Finansinspektionen (FI) imposed the fine, the latest in a series of significant money laundering fines in Europe, following investigations conducted in parallel with Estonia’s Finantsinspektsioon.


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