Sunday, October 5, 2025

Polaris of Enlightenment

Credit giant Klarna fined $43M for violating money laundering rules

Published 12 December 2024
– By Editorial Staff
FI does not currently consider it necessary to issue a warning to Klarna or revoke its license.
2 minute read

The Swedish Financial Supervisory Authority (FI) has determined that Klarna has failed to comply with Swedish anti-money laundering regulations and has therefore issued the payment giant a warning along with a sanction fee of 500 million SEK ($43 million).

The Swedish Financial Supervisory Authority has investigated Klarna’s compliance with anti-money laundering rules, including the requirements for general risk assessment and customer due diligence procedures and guidelines, during the period April 1, 2021 through March 31, 2022, and concluded that Klarna has failed to comply with the statutory requirements.

The general risk assessment has had significant shortcomings, for example, it has completely lacked assessments of how the bank’s products and services can be used for money laundering or terrorist financing. In addition, the bank has lacked procedures and guidelines that capture all situations where customer due diligence measures should be taken, in relation to customers using the invoice product,” it says.

– Money laundering rules must be followed. This is important to counter the risk of the company’s business being exploited by criminals. Our investigation shows that Klarna has not complied with the requirements for, among other things, general risk assessment and procedures and guidelines for customer due diligence. It is therefore justified to intervene against the bank, comments Daniel Barr, Director General of FI, in a press release.

“Taking this very seriously”

Even though the penalty is high, it is not currently considered that there are sufficient grounds to issue a warning to Klarna or revoke its license.

The payment giant has commented on the decision and emphasizes that “it is important to point out that the decision concerns the interpretation and application of the rules and not actual cases of money laundering”.

Together with authorities and the rest of the industry, we have a shared mission to combat money laundering and terrorist financing. We take this responsibility very seriously and will continue to do our utmost to contribute to a strong and resilient financial sector”, the statement continues.

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Bitcoin reaches new record – surpasses $125,000 in value

Alternative economic systems

Published today 13:21
– By Editorial Staff
1 minute read

The world’s leading cryptocurrency continues its rise and hit a new all-time high on Sunday, driven by dollar weakness and strong inflows to bitcoin ETFs.

Bitcoin rose to $125,689 on Sunday, once again reaching new record levels. The previous record was set in mid-August when the cryptocurrency reached $124,480.

The rise comes after eight straight days of gains, supported by positive developments in US stock markets and increasing investments in bitcoin ETFs – exchange-traded funds that allow investors to gain exposure to bitcoin without having to buy and store the cryptocurrency themselves. Meanwhile, the US dollar has weakened against most major currencies, partly due to uncertainty surrounding a possible US government shutdown.

Joshua Lim, analyst at crypto broker Falcon X, sees a clear connection:

With many assets at record levels, it’s not surprising that bitcoin is benefiting from dollar weakness.

Since the beginning of the year, bitcoin has risen over 30 percent, benefiting from more crypto-friendly policies under President Donald Trump’s administration and increased institutional interest in digital assets.

Swedish Police: Children killed while carrying out bombings for criminals

Deteriorating safety

Published 2 October 2025
– By Editorial Staff
Police urge parents to be present in their children's lives - both physically and digitally.
2 minute read

The number of bomb attacks in Sweden has increased dramatically – and increasingly, children are being exploited by criminal networks to carry them out.

Swedish police are now sounding the alarm after several young people have been injured and at least one killed while handling hand grenades and explosive charges.

The increase is dramatic. Up to August this year, 119 detonations have occurred in Sweden, compared to 76 during the same period last year, and increasingly it is children and teenagers who are carrying out bombing and arson attacks for gang criminal clients.

There are several documented cases where young people have been seriously injured, and at least one death has occurred when young people have handled explosives and flammable liquids.

— Handling flammable liquids and explosives can be deadly or cause, for example, serious burns, hearing damage or blown-off hands, emphasizes Dan Windt, operational coordinator at the Swedish police’s national operations center.

Hand grenades at preschools

Due to the ruthless exploitation, the Swedish Police Authority has launched a social media campaign targeting young people. The message is clear: never take assignments from criminals and never handle explosives – it is life-threatening. Police also urge parents to be vigilant and recognize warning signs.

— Parents and other important adults need to continue being present in children’s lives both physically and digitally. Ask lots of questions and ask for help. Contact social services in your municipality if the child is contacted by criminals, or alert police at such an early stage if you suspect your child is about to commit a crime, so we can prevent it together, Windt continues.

Many of the bombings have been carried out with smuggled hand grenades used for both revenge and extortion. On several occasions, unexploded hand grenades have been found in residential areas – even at or near preschools.

— An explosive charge or hand grenade can look many different ways. If you discover a suspected dangerous object, you should under no circumstances touch the object, keep a safe distance, warn others and alert police by calling 112, Dan Windt concludes.

More young Swedes skeptical of democracy

Published 2 October 2025
– By Editorial Staff
Not even one in four young Swedes believe they have the opportunity to influence society.
2 minute read

Fewer young people believe that democracy is the best way to govern a society, according to a new report from Ungdomsbarometern (Youth Barometer), a Swedish research organization. At the same time, trust in Sweden’s politicians is declining.

This year, 79 percent of young people see democracy as the best alternative for governance, compared to 88 percent in 2021. This development coincides with increased distrust of politicians – 45 percent of young people don’t believe they can solve the problems that exist in Sweden.

Meanwhile, six out of ten young people express increased concern that democracy in Sweden will be weakened.

When young people look ahead, they do so in a time marked by crises and uncertainty. If you don’t believe that democracy has the power to solve major societal problems, it also becomes harder to feel that your own voice makes a difference, says Ulrik Hoffman, society and skills supply expert at Ungdomsbarometern, in a press release.

Less influence

In 2019, 52 percent of young people believed they had the opportunity to influence society, but now that figure has dropped to 23 percent. Fewer also identify with political identities, such as feminist or anti-racist. Concerns about war, crime and the economy have also increased markedly.

More young people feel that the issues that worry them today are things they themselves have little power over, says Johanna Göransson, lifestyle and consumption expert at Ungdomsbarometern.

The study, which is conducted annually, is based on responses from 1,450 young people aged 15-24.

It should be noted that Ungdomsbarometern does not clearly define what is meant by democracy in the survey. In Sweden, the term usually refers to parliamentary democracy and the current political system with relatively free elections, separation of powers and protection of certain fundamental rights.

However, some political activists frequently argue that democracy is not just a form of government but also includes specific values within areas such as gender equality, “anti-racism” or climate policy – making democracy synonymous with a particular political agenda rather than a system of governance.

Sweden invests billions in roads and railways – will take 25 years to catch up

Published 1 October 2025
– By Editorial Staff
Decades of deferred maintenance are now to be addressed on both roads and railways.
2 minute read

Over 100 billion euros will go to maintenance and upgrading of Swedish roads, railways, as well as maritime and aviation infrastructure, according to the Swedish Transport Administration’s national plan for transport infrastructure.

At the same time, the agency announces that it will take 25 years to catch up with railway maintenance – and that several planned investments will be scrapped.

It was last autumn that the Swedish government decided to upgrade Sweden’s infrastructure with the aim of, among other things, creating better conditions for efficient and sustainable transport. On Tuesday, the Swedish Transport Administration presented its proposals on how the money should be used.

A total of 100 billion euros will be divided up, with half of the money going to maintenance and half to development of new infrastructure.

The plan is to, among other things, catch up with deferred maintenance on both roads and railways. The forecast for when they will be caught up with the work is estimated to be 2037 for roads and 2050 for railways.

It’s possible to do it faster, but then we can’t allow as much train traffic as we do today, says the Swedish Transport Administration’s Director-General Roberto Maiorana to public broadcaster SVT.

“Travel will become more efficient”

There will also be quite a few investments made to meet “Sweden’s future needs for efficient, sustainable and robust transport”. Furthermore, they will also scrap certain projects that have been active, including the expansion of double tracks in Maria–Helsingborg as well as Gävle–Kringlan, which are considered too expensive. This is being done to free up money for other projects that they consider to have greater benefit.

Much of this plan is about better conditions for commuting, a more competitive business sector and strong total defense. Travel and transport will become more reliable, efficient and safer, says Maiorana.

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