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# Sweden's Finansinspektionen Fines Swedbank SEK 12.5 Million for Protective Security Failings
- URL: https://www.theglobalbanker.com/sweden-finansinspektionen-fines-swedbank-sek-12-5-million-protective-security/
- Published: 2025-05-14T18:44:00.000Z
- Updated: 2026-11-06T15:04:53.000Z
- Description: Sweden's Finansinspektionen fined Swedbank SEK 12.5 million for protective security regulation violations, finding its protective security analyses deficient between July 2022 and January 2024.
- Author: TGB Editorial Team
- Tags: Regulations, Europe, #archive

Sweden's financial supervisory authority, Finansinspektionen (FI), imposed a fine of SEK 12,500,000 — equivalent to approximately $1.3 million — on Swedbank AB on 14 May 2025 after finding that the bank had violated protective security regulations during the period from July 2022 to January 2024\. The decision followed an FI review into how Swedbank managed its obligations under Swedish protective security law, which governs how operators of security-sensitive activities identify and document risks to national security and critical infrastructure.

Swedbank is one of Sweden's four major commercial banks and a systemically important institution in Sweden and the Baltic countries. Because it conducts security-sensitive activities, which it notified to FI in December 2021, it is subject to requirements that go beyond ordinary financial regulation, including obligations to conduct and document protective security analyses at a level of rigour that FI found to be lacking during the relevant period.

#### FI'S FINDINGS

FI found that Swedbank's protective security analyses — two of which the bank adopted during the period — were deficient and that the bank had violated several provisions of the protective security regulatory framework between 12 July 2022 and 31 January 2024 — a span of approximately eighteen months. 

The regulator noted that the violations were deemed unintentional — that is, FI found no evidence that Swedbank had deliberately failed to comply with its obligations. Furthermore, FI found no evidence of any actual damage to Sweden's security. FI treated these, together with the absence of previous interventions against Swedbank under the framework, as mitigating circumstances. As aggravating circumstances, it found that the bank had circumvented fundamental components of the protective security framework, creating vulnerabilities in Sweden's security, and that the violations lasted a long time.

#### PREVIOUS ENFORCEMENT

In 2020, FI fined Swedbank SEK 4 billion in separate proceedings related to anti-money laundering deficiencies in its Baltic operations. The May 2025 action involves a different regulatory framework and an unrelated set of issues.