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Klarna Bank has come under scrutiny from the Swedish Financial Supervisory Authority (FSA) over alleged violations of several financial crime regulations. A redacted letter sent by the FSA to Klarna’s CEO, Sebastian Siemiatkowski, in July—seen by the local newspaper Dagens Industri—outlined concerns regarding the lender’s compliance with the Money Laundering Act.
The letter highlights violations across at least six provisions of the Money Laundering Act, including general risk assessment, customer risk evaluation, and adherence to Know Your Customer (KYC) requirements. These are critical areas for preventing financial crimes and ensuring transparency in financial operations.
The FSA is currently assessing whether it needs to take further action against Klarna and, if so, how such measures should be implemented. The regulator’s investigation could lead to sanctions or stricter oversight, depending on the severity of the breaches identified.
Klarna has declined to comment on how the FSA’s findings could impact the company’s plans for an initial public offering (IPO), which was reportedly being considered for next year. The outcome of the investigation may play a key role in determining Klarna’s path forward as it continues to navigate regulatory scrutiny.
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