The major bank Swedbank has not lived up to the regulatory framework for security protection. Therefore, the bank must pay 12.5 million kronor in sanctions, according to a decision by the Financial Supervisory Authority (FI).
"The security protection analysis is a fundamental part of a structured and systematic security protection work. Our review shows that Swedbank has not lived up to the requirements placed on a security protection analysis", says Malin Alpen, head of Payments at FI, in a press release.
"Swedbank's security protection is solid. The deficiencies in documentation were addressed more than a year ago. The assessment is that these have not affected our security protection", says CEO Jens Henriksson, in a press release.
