On December 17, 2025, Finansinspektionen, Sweden’s Financial Supervisory Authority (“the Authority”), announced that it issued a remark and imposed an administrative fine of SEK 170 million (approximately $183 million) on Svea Bank after an investigation revealed several violations of key anti-money laundering (“AML”) regulations. The Authority found that the bank was deficient in performing general risk assessments that included failures to assess certain banking products to determine how they could be used to launder funds or support terrorist financing. The Authority also identified deficiencies in risk assessments performed on customers, including insufficient efforts to determine if customers had beneficial owners or to investigate the purpose and nature of certain business relationships as required. In addition, the bank had a high percentage of cases where it either failed to implement enhanced due diligence measures or failed to take sufficient measures when dealing with high-risk customers. According to the Authority, there were also high-risk cases where due diligence measures were taken too late.
The Authority emphasized that the remark and administrative fine were issued after determining that, while Svea’s violations required intervention, they were not serious enough to withdraw the bank’s authorization or issue a warning.
Finansinspektionen News Release