Estonia: SEB Pank fined EUR 1 mln for breaches of anti-money laundering rules

  • 2020-06-25
  • BNS/TBT Staff
TALLINN - 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. 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. Shortcomings were also found in the reporting of suspicions of money laundering to the Financial Intelligence Unit.  A precept has been issued to the bank ...
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