The Swedish Financial Supervisory Authority imposed a million fine on Klarna

Swedish The Financial Supervisory Authority has fined the payment service company Klarna 50 million dollars, says The Financial Times (FT).

The fine is related to Klarna’s inadequate measures to combat money laundering and terrorist financing. Swedish Financial Supervisory Authority already brought up earlierthat it is not satisfied with how the payment service company has complied with the various provisions of the Money Laundering Act.

The Swedish Financial Supervisory Authority stated on Wednesday that in 2021-2022, Klarna had significant shortcomings in how it combated money laundering and terrorist financing.

At the same time, however, the Financial Supervisory Authority pointed out that the report it made was not serious enough for the cancellation of Klarna’s business license to be in question. The Financial Supervisory Authority was therefore content to issue reprimands and fines to the company.

Klarna assured the FT that it takes the anti-money laundering rules seriously and will bear its responsibility for their compliance in the future.

However, the company emphasized that the Financial Supervisory Authority’s decision did not concern “actual money laundering cases”, but the interpretation and application of the rules.

Klarna is currently preparing to be listed on the stock exchange in the United States. The company announced its intentions in early November.

Klarna’s announcement about the stock exchange listing has been awaited for a long time. According to Bloomberg, analysts’ latest estimate of the payment service company’s market value was $14.6 billion.