SEB Pank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Estonian FSA fines SEB Pank for anti-money-laundering breaches
Fine or penalty
Estonia's Financial Supervision Authority issued a precept and fined AS SEB Pank for deficiencies in customer due diligence and reporting suspected money laundering. The bank was required to rectify the identified shortcomings.
Source excerpt
The FSA identified during its supervisory proceedings inadequacies in SEB Pank activities in applying customer due diligence measures during customer on-boarding and throughout the business relationships.
The Estonian Financial Supervision Authority (FSA) has issued a precept to AS SEB Pank and a fine of million euros for breaches of anti-money laundering and terrorist financing rules, informed LETA/BNS.
The discovery of these shortcomings during the supervisory proceedings led the FSA to open a misdemeanor case as well and to fine AS SEB Pank million euros for the failings in 2017-2019.