UKX FTSE 100 Index

TIDMSEBA 
 
 
 
 
Press release 
 Stockholm 19 November 2019 
 
 
   Comments regarding material from Sveriges Television 
 
   SEB has received a list of 194 corporate names from Sveriges 
Television's program Uppdrag granskning. SEB has compared the names with 
the bank's internal analysis, which has served as the basis for the 
assessment and the comments that the bank has made concerning the Baltic 
operations. 
 
   The names on the list from Sveriges Television are, in all material 
respects, covered by the bank's own analysis and do not change the 
bank's fundamental assessment. 
 
   The names on the list from Sveriges Television has previously been 
handled and approximately 95 percent of the customer relations are 
terminated. When SEB has detected suspected activities it has been 
reported to relevant finance police. A few clients still have 
engagements with SEB. SEB's assessment is that those remaining customers 
meet the bank's criteria, and with the information that SEB has about 
the customers today, there has been no reason to terminate the customer 
relations. SEB works continuously to make sure that SEB's customers live 
up to the bank's requirements. 
 
   A majority of the names on the list are historical customer relations 
from Estonia. In 2006, SEB Estonia received criticism and 
recommendations from the Estonian financial supervisory authority for 
its handling of non-resident customers. At the same time, SEB received 
information from an external whistle-blower. Both of these events 
resulted in that SEB Estonia strengthened its routines, reported a 
number of clients to the finance police and terminated several customer 
relations. 
 
   Although SEB historically has lived up to the regulatory requirements, 
we can with today's knowledge conclude that neither regulations nor the 
banking system's ability have been sufficiently efficient to handle 
risks of money laundering before 2008. Since then, SEB's ability to 
prevent, detect and report suspected financial crime increased over 
time. The regulations have been tightened, the awareness has increased 
and the bank's routines, processes and systems have improved. SEB is 
doing its utmost to prevent that the bank is used for financial crime. 
Nevertheless, SEB cannot guarantee that it has not been used nor that 
SEB will be used. 
 
   If new relevant information emerges that has previously not been known 
to SEB, SEB will take action. SEB wants to provide everyone who follows 
the bank equal, correct and transparent information. SEB has no further 
knowledge of any content that might emerge in Sveriges Television's 
program Uppdrag granskning. 
 
 
 
 
For further information, please 
 contact 
 Frank Hojem, Head of Corporate 
 Communication 
 +46 70 763 99 47 
 frank.hojem@seb.se 
This is information that Skandinaviska Enskilda Banken AB (publ.) 
 is obliged to make public pursuant to the EU Market Abuse Regulation. 
 The information was submitted for publication, through the 
 agency of the contact persons set out above, at 08.30 am CET, 
 on 19 November 2019. 
------------------------------------------------------------------------ 
 
SEB is a leading Nordic financial services group with a strong 
 belief that entrepreneurial minds and innovative companies 
 are key in creating a better world. SEB takes a long-term perspective 
 and supports its customers in good times and bad. In Sweden 
 and the Baltic countries, SEB offers financial advice and a 
 wide range of financial services. In Denmark, Finland, Norway, 
 Germany and UK the bank's operations have a strong focus on 
 corporate and investment banking based on a full-service offering 
 to corporate and institutional clients. The international nature 
 of SEB's business is reflected in its presence in some 20 countries 
 worldwide. At 30 September 2019, the Group's total assets amounted 
 to SEK 3,046bn while its assets under management totalled SEK 
 1,943bn. The Group has around 15,000 employees. Read more about 
 SEB at http://www.sebgroup.com http://www.sebgroup.com. 
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   Attachment 
 
 
   -- 44 191119 Press release SEB comments regarding material from Sveriges 
      Television 
      https://ml-eu.globenewswire.com/Resource/Download/4e0a3ba1-b8c0-412c-9554-2900c5b269e9 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

November 19, 2019 02:45 ET (07:45 GMT)

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