Companies | The Swedish Financial Supervisory Authority reprimanded Klarna for being of algal origin

Swedish According to the Financial Supervisory Authority, the Swedish payment service company Klarna has not done enough to combat money laundering and terrorist financing.

The news agency reports about it Bloomberg Swedish magazine Dagens Industria (DI) citing.

According to DI, the Financial Supervisory Authority sent Klarna’s CEO in June To Sebastian Siemiatkowski letter in which it accused the payment service company of violating several provisions of the Money Laundering Act.

Bloomberg reports that DI has obtained the letter sent by the Financial Supervisory Authority. Based on that, Klarna would have violated at least six different provisions of the Money Laundering Act.

According to the Swedish Financial Supervisory Authority, Klarna has, for example, not carried out a risk assessment for its customers, nor has it complied with the duty to know the customer.

According to the letter seen by DI, the Financial Supervisory Authority is evaluating whether it intends to separately intervene in Klarna’s operations.

Klarna is currently preparing to be listed on the stock exchange.

The company did not comment to Dagens Industri on whether the review by the Swedish Financial Supervisory Authority affects the schedule of the listing. Klarna also did not respond to Bloomberg’s request for an interview.

Klarna’s turnover increased by 27 percent in the first half of 2024. The company’s adjusted operating profit was 229 million Swedish kronor, or nearly 20 million euros.

Earlier this year, Klarna received fines of 7.5 million kroner, or about 670,000 euros Regarding the violation of the EU data protection regulation, i.e. GDPR.

According to the Swedish court, Klarna did not provide its customers with sufficient information about how it stores customers’ personal data. According to the court, the information provided by Klarna was unclear or it was difficult for the customer to find it.