Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

ABAC, Compliance, Financial Crime

Shares fall in Ericsson after CEO admits company may have paid terrorist organisation Isis in Iraq

By Elizabeth Hearst for AMLi

Shares in Swedish telecommunications company, Ericsson, plummeted yesterday after its CEO, Borje Ekholm, revealed it may have made payments to the terrorist organisation, Isis, in Iraq.

On Tuesday, Mr Ekholm said that an internal investigation from 2019 revealed serious breaches in the company’s compliance framework in Iraq, including evidence of the purchase of transport routes to escape local customs. 

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!