New Documents

The Swiss Federal Council approved a proposal to enhance the country’s anti-money laundering and counterterrorist financing framework.

The Swedish Financial Supervisory Authority issued a public statement highlighting the risks associated with investing in cryptoassets.


Enforcement Actions

Finansinspektionen, Sweden’s financial supervisory authority, issued a warning and an administrative fine of SEK 45 million against the Gothenburg, Sweden-based financial institution for anti-money laundering deficiencies and weaknesses in the company’s general risk assessment.

Finansinspektionen, Sweden’s financial supervisory authority, issued a cessation order to the Uppsala-based currency exchange service for failure to adhere to its anti-money laundering and counterterrorist financing obligations.

Important Facts

  • The U.S. State Department labels Sweden as a monitored jurisdiction. Sweden is not a regional financial center. Money laundering in Sweden generally occurs either through individuals or corporations that use the financial system to turn over illicit funds. Money laundering is further facilitated by criminals having contacts or acquaintances within, or influence over, corporations and actors within the financial system. Laundered money originates from sales of narcotics, tax fraud, economic crimes, robbery and organized crime. Money laundering is concentrated primarily in large urban regions, such as Stockholm, and is frequently conducted over the Internet, utilizing international money transfer services, gaming sites, and narcotics and illicit chemical vending sites. Organized crime is a growing concern in Sweden, but public corruption is not an issue. Sweden does not have an offshore financial center. The country does not provide offshore banking and does not readily attract foreign criminal proceeds because it does not have favorable banking regulations.
  • KYC covered entities: Banks; insurance companies; securities firms; currency exchange houses, providers of electronic money, and money transfer companies; accounting firms; law firms and tax counselors; casinos, gaming entities, and lottery ticket sales outlets; dealers of vehicles, art, antiques and jewelry; and real estate brokers
  • STR covered entities: Accountants; tax advisors; lawyers; real estate agents; casinos; banks; life insurance companies and insurance brokers; securities and fund companies; issuers of electronic money; and dealers of high-value goods
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: N/A; Convictions: N/A
-Source: 2015 International Narcotics Control Strategy Report (INCSR)


FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 14 High : 1
Largely Compliant : 23 Substantial : 4
Partially Compliant : 3 Moderate : 6
Non-Compliant : 0 Low : 0

Sweden's technical compliance was re-rated in a Oct. 2, 2020 follow-up report


Rank : 134/141
Score : 3.32/10


Rank : 4/180
Score : 85/100

Tax Justice Network i

Rank : 64/133
Score : 46/100