Swedbank fined $50 million by New York authorities over Panama Papers revelations

Swedbank agreed to a $50 million fine with New York’s state financial regulator to settle a money laundering case linked to the Panama Papers. The investigation by the New York State Department of Financial Services (DFS) focused on Swedbank’s anti-money laundering controls and disclosures between 2007 and 2019, including allegations of withholding information about ties to Mossack Fonseca.