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# Swedish Regulator Revokes Intergiro’s E-Money License Over Money Laundering Concerns
- URL: https://www.embeddedfinancereview.com/swedish-regulator-revokes-intergiros-e-money-license-over-money-laundering-concerns/
- Published: 2025-06-20T11:31:00.000Z
- Updated: 2025-11-15T21:07:11.000Z
- Description: Swedish regulator revokes Intergiro's e-money license over money laundering failures. What this means for banking-as-a-service customers and regulatory scrutiny.
- Author: Lars Markull
- Tags: News, Intergiro, Enabler, Sweden, Embedded Banking

**What happened:** The Swedish regulator has revoked Intergiro's e-money license ([Realtid](https://www.realtid.se/bank-fintech/natbank-forlorar-tillstand-kopplas-till-terrorrisk/?%5Fbhlid=66b8c7f218f550c731874ec39dce01b2d2d03e96&ref=embeddedfinancereview.com)). Intergiro provides: a) business banking offerings to SMEs; b) a payment acceptance product; and c) a banking-as-a-service solution. Intergiro needs to wind down its offering until mid-September, but the Swedish company is appealing this decision, as noted on its website ([Intergiro](https://www.intergiro.com/?%5Fbhlid=5a028379e86b78fb96528cededba7b39903b31f7&ref=embeddedfinancereview.com)).

**My comment:** For those of you who have been following banking-as-a-service providers, specifically in Europe or the US, you will know that this is not the first clash between regulators and banking-as-a-service providers. The Swedish regulator stated, “Intergiro has had serious shortcomings in its work to combat money laundering and terrorist financing. This has meant a clear risk that criminals have been able to exploit Intergiro to launder criminal proceeds.”

However, this news does not come as a big surprise. An investigation by the Swedish public television broadcaster SVT Nyheter, published in March 2025, already implicated Intergiro in a billion-euro money-laundering activity ([SVT](https://www.svt.se/nyheter/granskning/ug/uppdrag-granskning-avslojar-bedragarna-tvattar-pengar-via-svenska-banken-intergiro?%5Fbhlid=c43b7bbe151a92a9789e421924e41a492b5380a3&ref=embeddedfinancereview.com)[ Nyheter](https://www.svt.se/nyheter/granskning/ug/uppdrag-granskning-avslojar-bedragarna-tvattar-pengar-via-svenska-banken-intergiro?%5Fbhlid=b3bd72a3c835fbbd0b87f29c8573e56d66a834ab&ref=embeddedfinancereview.com)). So, what could be the way out for Intergiro? It seems that Intergiro’s existing investor, Front Ventures, is working on acquiring all of Intergiro through its entity Citygiro.