Svea bank has broken the money laundering rules, according to the Financial Supervisory Authority. The bank thus receives a penalty fee of SEK 170 million
Among other things, the bank has not risk assessed its customers in the manner required by the rules, and has not taken the measures that had been required to achieve customer knowledge, according to the authority.
“That banks and financial companies comply with the money laundering rules is a prerequisite for them to be able to counter risks of money laundering and financing of terrorism in their operations,” says Malin Alpen, Head of Payments at the Swedish Financial Supervisory Authority.
