Klarna Bank Criticized by Swedish Authority; Former Swedbank CEO Birgitte Bonnesen Sentenced by Swedish Court to 15 Months

Klarna Bank has come under scrutiny from the Swedish Financial Supervisory Authority for insufficient measures to combat money laundering and terrorist financing, according to Dagens Industri. Additionally, Swedbank AB’s former CEO, Birgitte Bonnesen, has been sentenced by a Swedish court to a year and three months in prison for gross swindling. The sentencing is related to her misleading statements about the lender’s efforts to combat money laundering, particularly in its Estonian unit. The court noted that her statements conveyed the misleading message that there did not exist any suspicious money laundering links to operations in Estonia or another bank.