Kalashnikov Concern controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
Money-laundering allegations involving Swedbank transfers
Issue disclosure
Swedish broadcaster SVT alleged that Swedbank transferred more than €1 million from Russian arms firm Kalashnikov Concern to a US subsidiary through a Russian oligarch’s business network. Swedbank said it was unaware of any US sanctions violation and pledged to investigate the allegations.
Company response
Investigation — Swedbank
Allegations of money laundering at Swedish lender Swedbank will be fully investigated by early next year, the bank pledged on Wednesday.
Source excerpt
In its report, SVT alleged Swedbank transferred more than one million euros ($1.1m) from Russian arms firm Kalashnikov Concern to a US subsidiary through the business network of a Russian oligarch who is a shareholder in Kalashnikov.
Swedbank, whose shares were down three percent at 08:30 GMT, behind its rivals, said it was not aware of any such violation.
Allegations of money laundering at Swedish lender Swedbank will be fully investigated by early next year, the bank pledged on Wednesday.