On 28 October 2019, Finantsinspektsioon decided to open a misdemeanour case with regard to Swedbank AS, an Estonian subsidiary of the Swedish banking group.
The decision was taken after some evidence of a misdemeanour appeared during a financial supervisory investigation into compliance with anti-money laundering rules that was launched earlier this year. In this separate misdemeanour proceeding, investigators are whether acts comprise necessary elements of an offence, whether they are unlawful and whether the person is guilty of commission of the offence, whether there are circumstances to end the investigation without further proceeding and other important aspects. The misdemeanour process is about sanctioning, while financial supervisory proceedings oblige a person in the interests of financial stability and transparency. Financial supervisory investigation with regard Swedbank AS will also continue.
Finantsinspektsioon is working extensively in the supervisory case with Swedish and other Baltic authorities, and the supervisory authorities are coordinating their activities and sharing information and assessments. Finantsinspektsioon does not conduct criminal proceedings and nor is it authorised to investigate criminal cases.
Finantsinspektsioon plans to communicate results of the investigations the earliest at the beginning of next year release the results of the investigations at the beginning of next year at the earliest.