The law firm hired by Swedbank to investigate past exposure to money laundering said Monday that it found the Swedish lender had inadequate systems to manage risk but didn’t conclude that it engaged in money laundering.

The law firm found payments to customer accounts worth €17.8bn ($19.03bn) and payments from customer accounts worth €18.9bn in the bank’s Baltic subsidiaries between 2014 and 2019 that represented a high risk for money laundering. However, it said it cannot conclude that money laundering actually took place.