Swedbank has been informed that the US Department of Justice (DOJ) has closed its investigation into the bank without enforcement.

“With this information we are placing another investigation of historical shortcomings behind us,” says Tomas Hedberg, Head of Special Task Force and Deputy CEO of Swedbank.

The investigation was initiated in 2019 and related to Swedbank’s historical anti-money laundering work.

The Department of Financial Services in New York (DFS) investigation is still ongoing. Swedbank said it cannot at this time assess the potential financial impact or when this investigation will be concluded.