Lithuanian central bank to investigate Swedbank in Lithuania

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VILNIUS, Feb. 21 (Xinhua) -- The Bank of Lithuania said on Thursday it would examine the situation of Swedbank in Lithuania amid money laundering scandal that struck Swedish Swedbank group.

"We will thoroughly examine the situation in Lithuania's Swedbank to verify that no suspicious transactions were ever conducted at the bank," Vytautas Valvonis, director of the Supervision Service of the Bank of Lithuania, was quoted as saying in a statement.

Swedbank in Lithuania, controlled by the Swedbank group, is the largest bank in Lithuania by assets.

Earlier this week, the Swedbank group had been shaken by money laundering scandal following the report by Swedish television (SVT) that suspicious transactions of at least 40 billion Swedish krona (4.3 billion U.S. dollars) by 50 clients had been carried out between Swedbank and Danske Bank in the Baltic countries during 2007 and 2015.

"The Bank of Lithuania has a zero-tolerance approach to money laundering and is committed to upholding the highest standards in the fight against such illicit activities," said Valvonis.

In response to the scandal, Lithuanian Finance Minister Vilius Sapoka insisted Lithuania was less exposed to money laundering risks than neighboring Latvia and Estonia.

On Thursday, the Bank of Lithuania also pledged to provide assistance to the Swedish and Estonian financial supervisory authorities in the investigation of alleged money laundering linked to the Swedbank group.

"We will investigate facts, share information and, if necessary, take collective supervisory actions," promised Valvonis. Enditem

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