Klarna's press chief Joel Hedin says it's about rule interpretation and application of rules against money laundering and financing of terrorism – and not actual cases of money laundering.
It's not ruled out that the FI decision will be appealed by Klarna, according to Hedin. This would have to be done within three weeks.
But I can't say anything about that. We need to go through the decision, he says to TT.
We have had a constructive dialogue since the investigation began in 2022 and see this as an important part of the joint work for a secure financial sector.
Klarna, which is expected to be listed on the stock exchange in the USA, writes on its website:
"The industry is navigating a complex regulatory framework, which is also demonstrated by the fact that all other major banks have received reprimands within the framework of the money laundering regulations".
"Lacking assessments"
FI has investigated how Klarna has followed the regulations during the period 1 April 2021 – 31 March 2022. The conclusion is that, according to FI, important routines and guidelines are lacking.
Among other things, regarding the general risk assessment, there have been completely lacking assessments of how the bank's products and services can be used for money laundering or financing of terrorism, says Malin Alpen, head of the business area at FI.
FI points out, among other things, a deficient analysis of 61 suspected transactions reported by Klarna. It is also pointed out that there are deficiencies in the control of merchants and customers with whom the bank has indirect relationships.
Has the investigation given indications that crimes have been committed?
Our task is to review companies' preventive work. Actual money laundering is a matter for other authorities, such as the police. But if we see signs of it, it's something we report, says Alpen.
Continued supervision
FI issues a remark and decides on a penalty fee of 500 million kronor for Klarna. The maximum amount calculated on the bank's turnover is 2.5 billion kronor.
We have noted that we don't think the violations are so serious that it's relevant to consider revoking the permit or issuing a warning, says Alpen.
The supervision of Klarna will now continue to ensure that the deficiencies identified are addressed, according to FI.
We now expect the company to live up to all the requirements that the regulations impose, says Alpen.
