Swedish Regulator Fines Norion Bank €8.33 Million for AML Breaches

Sweden’s financial regulator has issued a significant enforcement action against Norion Bank AB, imposing an administrative fine of 90 million SEK (€8.33 million) for breaches of anti‑money laundering requirements

The investigation by the Swedish Financial Supervisory Authority found that the bank:

• - Failed to adequately assess whether medium‑ and high‑risk customers had PEP connections
• - Did not perform sufficient enhanced due diligence on high‑risk corporate clients
  - Lacked adequate measures to understand customers’ business activities, financial situation, and source of funds

While the violations were serious, the authority concluded they did not warrant licence withdrawal. Instead, the bank received a formal remark accompanied by the financial penalty.

Read more https://www.fi.se/en/published/sanctions/financial-firms/2026/remark-and-administrative-fine/?language=en