(Corrects spelling of Erik Thedeen's name)
STOCKHOLM, March 19 (Reuters) - Sweden's financial watchdog hit lender Swedbank with a record 4 billion Swedish crown ($386 million) fine on Thursday, after it found the bank had serious deficiencies in its management of the risk of money laundering in its Baltic operations.
"Our investigation shows that the Swedish management did not efficiently address the risk of money laundering in the Baltics," FSA Director General Erik Thedeen said in a statement. "It is also deeply concerning that the bank on a number of occasions withheld information from FI that would have revealed the seriousness and scope of the problems."
Swedbank remains under investigation in the United States and Estonia. ($1 = 10.3665 Swedish crowns) (Reporting by Stockholm Newsroom)