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Money Disappearing from Swedbank Customer Cards: Panic and Reassurances

Money is disappearing massively from the cards of Swedbank customers. It is deducted automatically. People take the money out of the card in a panic.

The bank, however, hurries to comfort, stating that the situation is under control!

Next to the information from the history of Swebank:

In 1998, FöreningsSparbanken acquired a majority stake in Hansabank, but then bought back all the shares in 2005, making Hansabank its own subsidiary. In 2001, FöreningsSparbanken’s efforts to merge with SEB failed because the European Commission recognized the potential monopolistic nature it would create in the Swedish banking sector.

Therefore, in 2006, all bank structures related to the group underwent a rebranding process, adopting the name Swedbank. On September 23, 2015, an announcement was published about Danske Bank’s agreement with Swedbank in Lithuania and Latvia on the transfer of business of private individuals (except individual service clients) to Swedbank.

This transaction requires the approval of the banking supervisors of both countries. On February 1, 2021, an announcement was made about the merger of Swedbank Baltika banks into a single holding, which will be officially registered in Latvia.

On June 21, 2023, it was revealed that Latvijas Swedbank had reached an agreement with the Office of Foreign Assets Control (OFAC) of the US Department of Finance regarding violations of Crimean sanctions in 2015 and 2016. The bank has agreed to transfer USD 3,430,900. potentially address civil liability.

Read more: Does the sky smell like autumn or is a strong storm expected? Long-term weather forecast for October 2023

But now back to what happened!

“Swedbank” customers report that money is disappearing from their cards. People are very excited and do not understand what is happening. It is explained.

Read more on the next page

2023-09-23 19:37:27
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