Nordea Bank Abp, the largest lender in Scandinavia, is involved into money laundering scandal, Bloomberg reports.

Investor Bill Browder sent application accusing bank in holding accounts in Sweden, Denmark, Finland and Norway that received $175 million from shell companies to avoid paying taxes from 2007 to 2013.

Nordea’s stocks fell by 3,2% on Wednesday. This year they already lost 13% of its value.

Nordea cannot fully comment the situation so far, but noted that it invested a lot of money into strengthening its operations against money laundering.

This situation worsens money laundering scandal in the region that started with Danske Bank. The last one faced investigations in five countries, including the US, as acknowledged that most part of transactions accounting for 200 billion euro that went through Estonian branch were suspicions. Danske’s shares lost 40% this year.

Recent money laundering scandals support lawmakers’ intentions to impose more sanctions in regards to European banks. Although non-European banks appear in such scandals as well, European lenders are involved in money laundering cases too often, S&P Global Ratings notes.