RecordLens
Menu

Claim review. Sanctions

Outdated

The claim described an earlier position that has since changed.

Swedbank said in June 2023 that investigations by the US Justice Department and the SEC into the bank were ongoing.

These investigations are at different stages.
About
Swedbank AB (publ)
Claim made by
Swedbank AB, company statement
Published
19 June 2023
Original
Swedbank reaches agreement with OFAC
Evidence score
69 How it was scored
Last reviewed
25 October 2026

Why this label

In June 2023 the bank settled with OFAC for SEK 37 million over 386 transactions in Latvia in 2015 and 2016 tied to a vessel owner and operator in CrimeaS3. It said the DOJ, SEC and New York DFS probes continuedS3. On 6 September 2025 the bank said the SEC had closed its investigation without enforcementS4. On 14 January 2026 the bank said the DOJ had closed its investigation without enforcementS5. Both closures rest on company disclosures, not agency records. The New York DFS probe remained openS5.

Current procedural position

OFAC settlement on 19 June 2023S3. SEC closed without enforcement, announced on 6 September 2025S4. DOJ closed without enforcement, disclosed on 14 January 2026S5. New York DFS investigation open as of January 2026S5.

Record supporting the assessment

the US Securities and Exchange Commission (SEC) has closed its investigation into the bank without enforcement.
S4 Tier B Swedbank AB, SEC closes investigation of Swedbank, 6 September 2025
DOJ has closed the investigation of Swedbank
S5 Tier B Swedbank AB (publ), DOJ has closed the investigation of Swedbank, 14 January 2026

Conflicting or limiting record

These investigations are at different stages.
S3 Tier B Swedbank AB, Swedbank reaches agreement with OFAC, 19 June 2023

Evidence score: 69 of 100

The score grades how well the record establishes this assessment. It is not a score of Swedbank AB (publ). Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?1630The closures rest on company releases, not agency records.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1820The releases state the closures directly.
CorroborationDo independent records support the same material point?615Both closures come from the bank's own disclosures. No agency record was found.
Procedural accuracyDoes the record settle the procedural state the claim describes?1115Closure without enforcement ends the US probes, but the DFS matter is open.
CurrencyHas the record been checked against later developments?910Checked to January 2026. No later DFS outcome was found.
ReproducibilityCan a reader locate the passage and repeat the assessment?910The releases are public on swedbank.com and Cision.
Total69100

Timeline

  1. OFAC settlement, other US probes described as ongoingS3
  2. SEC closes its investigation without enforcementS4
  3. Bank discloses DOJ closure without enforcementS5

Related cases

  • US authorities and Swedbank ABUS Treasury Office of Foreign Assets Control, US Securities and Exchange Commission, US Department of Justice. Regulatory. Not published.Stage: OFAC settled in June 2023. SEC and DOJ closed without enforcement. New York DFS open.
    • SEC closes its investigation without enforcementS4
    • DOJ closure without enforcement disclosed by the bankS5

Responses

  • Swedbank AB, 19 June 2023: A deputy chief executive said the bank takes the historical shortcomings seriously and has learned from them.S3

Revision history

  • Assessment first published with label Outdated.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S4Tier B SEC closes investigation of SwedbankSwedbank AB. Company statement. 6 September 2025.Company disclosure of the SEC closure. It says the DOJ and DFS probes were then still open.Link working, checked 25 October 2026
  2. S5Tier B DOJ has closed the investigation of SwedbankSwedbank AB (publ). Company statement. 14 January 2026.The bank's own release, issued as inside information, on the DOJ closure. It says the New York DFS probe was still open. No DOJ record was found.Link working, checked 25 October 2026
  3. S3Tier B Swedbank reaches agreement with OFACSwedbank AB. Company statement. 19 June 2023.Company account of the OFAC settlement and of US probes then open. The OFAC release itself was not read.Link working, checked 25 October 2026

Other claims about Swedbank AB (publ)