The Financial Supervisory Authority of Sweden (FI) has fined Klarna Bank, the Swedish fintech company, with a $46 million fine for serious breaches of anti-money laundering regulations.

La sanction de Klarna Bank was imposed on it after an investigation over the period 2021-2022, during which the bank did not properly assess the risks of using its services for the purposes of money laundering or terrorist financing. According to the Swedish financial police in a statement published on Wednesday, “the investigation shows that Klarna has violated several essential rules. Klarna's overall risk assessment had significant shortcomings; for example, it did not contain any assessment of how the bank's products and services could be used for money laundering or terrorist financing. In addition, the bank did not have procedures and guidelines to identify all situations where due diligence measures needed to be taken for customers using Klarna's billing product

For Daniel Barr, managing director of Finansinspektionen, “anti-money laundering regulations must be respected. It is important to counter the risk of corporate operations being used by criminals.”