Klarna Bank has faced criticism from the Swedish Financial Supervisory Authority (FSA) for not adequately addressing money laundering risks.
A letter from the FSA to Klarna CEO Sebastian Siemiatkowski in July, which was reviewed by local newspaper Dagens Industri, highlights concerns regarding at least six different provisions of the Money Laundering Act. These include issues related to general risk assessment, customer risk assessment, and compliance with know your customer (KYC) rules.
The FSA has indicated that it will evaluate whether intervention against Klarna is necessary and the appropriate course of action. Klarna has chosen not to comment to Dagens Industri regarding how this assessment might influence its plans for a potential IPO next year.