European law enforcement's interception and surveillance of nearly 120 million messages on Encrochat, an encrypted communications platform once favored by criminals, led to record seizures of illicit cash in France, the Netherlands and the United Kingdom. Add Sweden to the list. Sweden's national law enforcement agency, Polisen, disclosed in a 35-page report Monday that the operation, which French and Dutch authorities made public in July 2020, also revealed "the scale of criminal proceeds generated by the drug trade in Sweden, how they are laundered ... and the roles that are central to the management of criminal proceeds." The French Gendarmerie...
SEB has become the latest inclusion on a list of European lenders that have or will incur substantial penalties for not having taken appropriate measures to mitigate substantial money-laundering risks in their Baltic subsidiaries.
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