Swedbank, which dominates financial markets in the Baltic region, was allegedly used for about 95 billion kronor (US$10.2 billion) in questionable transactions, according to Sweden’s main television broadcaster, SVT, which cited an internal review carried out by the bank last year.

The amount is more than double the level of suspicious flows reported by SVT less than a month ago.

It’s not the first time that a big Nordic bank has discovered larger sums tainted by potential links to money laundering, once a review starts.

Danske Bank, which is being investigated by the US Department of Justice and Securities and Exchange Commission, acknowledged last year that much of about US$230 billion that flowed through a tiny Estonian unit was suspicious in origin.

That scandal started with reports of just US$200 million in questionable flows.

In a statement to the stock exchange on Friday, Swedbank said it “takes its responsibilities to prevent and detect money laundering very seriously.”

“In 2018, Swedbank on its own initiative in response to public information regarding Danske Bank made an analysis of payments between customers in Danske Bank and Swedbank.

“In the analysis, Swedbank looked at payments made during 2007-2015,” the bank said.

“As we have repeated many times, we act on different signals,” Swedbank chief executive officer Birgitte Bonnesen said in the statement. “Therefore, it was natural for us to act when the disclosures about Danske Bank came out on the market. That was the background to our analysis.”