Sweden’s Financial Supervisory Authority (FSA) has launched an investigation into Swedbank’s compliance with anti-money laundering and counter-terrorism financing regulations, the agency confirmed to Reuters on February 21, 2026. The probe will cover the period from December 2023 to November 2025 and focus on the bank’s internal controls and due diligence procedures.
“How banks and financial companies address the risks of money laundering and terrorist financing in their operations is a priority issue for the FSA’s work in 2026,” the FSA stated to Reuters. The regulator did not specify whether the investigation was a routine measure or triggered by suspicions of wrongdoing.
Swedbank, when contacted by Reuters, directed all inquiries regarding the investigation to the FSA.
The investigation follows the conclusion of a U.S. Department of Justice probe into Swedbank regarding potential money laundering in January, which was closed without penalty. That investigation was linked to a money laundering scandal in the Baltic states that initially surfaced at Danske Bank.
The FSA’s scrutiny of Swedbank occurs as the U.S. Department of Agriculture (USDA) continues to distribute over $30 billion in disaster recovery assistance to farmers and livestock producers, authorized by the American Relief Act of 2025, signed into law on December 21, 2024. Sign-up for the Emergency Commodity Assistance Program (ECAP) began on March 19, 2025, and concluded on August 15, 2025, with nearly $8 billion in payments distributed to date. The Emergency Livestock Relief Program (ELRP) for Drought and Wildfire automatically issued payments to producers with approved Livestock Forage Disaster Program applications for 2023 and/or 2024.
The ELRP for Flooding and Wildfire on Non-Federal Lands, a new program requiring software changes, began accepting applications on September 15, 2025, with an extended sign-up deadline of November 21, 2025. The Supplemental Disaster Relief Program (SDRP) is also underway, offering assistance to producers for losses of revenue, quality, or production due to weather events in 2023 and 2024, with the first stage open to producers with indemnified losses.
The U.S. Environmental Protection Agency (EPA) is also considering options for the reallocation of biofuel requirements for 2023-2025, as reported by Reuters on September 16, 2025. The agency has indicated support for fully reallocating those requirements.
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