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Swedbank slapped on wrist by regulator over IT incident

Source: Swedbank

Swedbank receives a remark and an administrative fine from the Swedish Supervisory Authority The Swedish Financial Supervisory Authority (SFSA) today has informed that Swedbank receives a remark and an administrative fine of MSEK 850.

The decision regards the IT incident in April 2022 where customers were displayed incorrect account statements.

Swedbank regrets and has apologized to customers for the problems that the IT incident caused. The bank has taken forceful measures to prevent this type of incident from happening again.

“We take the SFSA’s remark seriously, that Swedbank made a change to an IT system without following the bank´s internal procedures and processes. We will now analyse the decision", says Jens Henriksson, president and CEO Swedbank.

Swedbank has continuously, during and after the incident, informed the SFSA according to established procedures.

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