Nordea Bank Abp allegedly handled about 700 million euros ($793 million) in questionable funds, some of which are linked to the death of Sergei Magnitsky, a lawyer who ended his days in a Russian prison after revealing wide-spread corruption. The allegations were made in a report by Finnish broadcaster YLE on Monday, which cited leaked documents covering 2005 to 2017.
A picture is forming of Nordic banks that, often via their Baltic units, became hubs for Russian criminals eager to channel their funds into the West. Danske Bank A/S is under investigation in the U.S. after admitting it was at the center of a $230 billion Estonian dirty money scandal. Swedbank AB, Sweden’s oldest lender and the biggest Baltic financial group, last month became embroiled in the same case and is now being probed by the financial regulators in Sweden and Estonia.
The full original article can be found at Bloomberg.