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Swedbank AB (Swedbank or the bank) is a Swedish joint stock banking company authorised to conduct banking business in accordance with the Banking and Financing Business Act (2004:297). On 3 December 2021, Swedbank notified Finansinspektionen that the bank conducts security-sensitive activities.
Finansinspektionen has investigated Swedbank's compliance with the protective security regulatory framework. The investigation covered the bank's protective security analyses during the period 12 July 2022–31 January 2024. The bank adopted two protective security analyses during this period. The investigation shows that Swedbank's protective security analyses have been deficient and that the bank has been in violation of several provisions of the protective security regulatory framework. According to Finansinspektionen, there are grounds on which to intervene against Swedbank AB as a result of these violations.
When selecting the intervention, Finansinspektionen considered several circumstances. As an aggravating circumstance, the bank circumvented fundamental components of the protective security regulatory framework and as a result created vulnerabilities in Sweden's security. Along the same lines, the violations have been occurring for a long period of time. As a mitigating circumstance, there is no evidence of any actual damage to Sweden's security, the violations are the result of negligence and thus not of intent, and Finansinspektionen has not previously intervened against Swedbank for violations of the protective security regulatory framework.
Finansinspektionen makes the overall assessment that the violations should result in an administrative fine of SEK 12,500,000.
