The Swedish Financial Supervisory Authority has launched a mapping exercise of how banks fulfil their obligation to offer payment accounts to consumers, amid concerns that anti-money laundering controls may be leading to unnecessary refusals or account closures. The work is intended to produce a comprehensive picture of how the obligation is handled across the market. Banks must offer consumers payment accounts while also preventing money laundering and other criminal activity. FI observes that consumers can be caught between these obligations where banks deny or terminate accounts on broad, general grounds. The review builds on earlier follow-ups that assessed whether banks consider alternative risk-reducing measures before refusing or closing an account, such as enhanced transaction monitoring or offering accounts with restrictions on amounts and services. In parallel with the review, FI will develop guidance to clarify how banks should balance the duty to provide payment accounts with requirements to counter money laundering and other financial crime.
Finansinspektionen 2026-04-17
Swedish Financial Supervisory Authority launches sector-wide review of banks’ provision of consumer payment accounts and will develop guidance
The Swedish Financial Supervisory Authority has launched a mapping exercise to assess how banks fulfil their obligation to offer payment accounts to consumers, amid concerns that anti-money laundering controls may be leading to unwarranted refusals or closures. The review will examine whether banks consider alternative risk-reducing measures before denying or terminating accounts and will be accompanied by guidance on balancing account access obligations with requirements to counter money laundering and other financial crime.