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Swedish FSA fines Svea Bank SKr170m for violating money-laundering regulations

Stockholm, Swedem. A view of the City Hall at night in the fog and the Riddarholmen island with boats.
Photo: Alexander Farnsworth/Getty Images

Vasilka Lalevska

1 min read
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The regulator’s investigation turned up deficiencies in the bank’s risk assessments and customer due diligence measures.

Finansinspektionen (the Swedish FSA) has issued a remark and imposed an administrative fine of SKr 170m ($18.3m) on Svea Bank AB, following an investigation of the bank’s compliance with key anti-money-laundering rules between April 30, 2022, to May 1, 2023.

The investigation has shown several vulnerabilities in Svea Bank’s operations, mainly relating to:

General

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