meta_id 3194801

On May 28, 2026, the Swedish Financial Supervisory Authority (Finansinspektionen or FI) issued Norion Bank AB (Norion) an administrative fine of 90 million Swedish kronor and a remark for violations of anti-money laundering regulations. FI conducted an investigation into Norion's compliance with customer due diligence provisions under the Anti-Money Laundering and Counter-Terrorist Financing Act (2017:630). The investigation focused on measures the bank implemented for customers who are legal entities. FI found that Norion failed to take necessary measures to adequately assess whether customers associated with medium or high risk of money laundering and terrorism financing had beneficial owners who were politically exposed persons or family members or known colleagues of such persons. Additionally, the bank did not implement enhanced customer due diligence measures to obtain detailed information about high-risk customers' business activities, financial situation, or the source of their money. Norion Bank holds authorisation to conduct banking business under the Banking and Financing Business Act (2004:297) and offers corporate and real estate loans, savings accounts, factoring services, and payment services to both natural persons and legal entities. FI determined that the violations did not warrant withdrawal of Norion's authorisation or issuance of a warning. The administrative fine of 90 million Swedish kronor, accompanied by a remark, constitutes an adequate intervention. This enforcement action reflects FI's continued focus on ensuring financial institutions maintain robust anti-money laundering and counter-terrorism financing compliance frameworks.