Weekly Roundup: Estonia Probes Swedbank for AML Breaches, ECB Shutters Russian-Linked Lender in Cyprus, and More

Swedbank disclosed it is being investigated in Estonia for allegedly violating anti-money laundering rules from 2014 and 2016, the Associated Press reported. More The European Central Bank ordered the wind down of Cypriot lender RCB Bank amid fears it may suffer a run on deposits by its vast portfolio of Russian clients after their nation's invasion of Ukraine and imposition of international sanctions on Kremlin-linked individuals and entities, the Financial Times reported. More German authorities created a taskforce to boost cooperation between federal and state agencies in the implementation and enforcement of sanctions against Russia, Frankfurter Allgemeine Zeitung reported. More...