COPENHAGEN, Denmark (AP) — The chairman of one of Sweden's largest banks says it has dismissed its chief executive in the wake of allegations that the bank was connected to a massive money laundering scandal in the Baltic countries.

Lars Idermark says Swedbank's CEO Birgitte Bonnesen was fired after "developments during the past days (that) have created an enormous pressure for the bank."

Idermark said that a board meeting on Thursday appointed the CFO, Anders Karlsson, as acting chief executive.

The decision came a day after Sweden's Economic Crime Authority raided the banks' headquarters. Prosecutors are investigating whether 15 of Swedbank's largest shareholders illegally received information about the bank's connection to the money laundering scandal before Swedish television reported on the issue for the first time last month.