The Financial Supervisory Authority of Sweden, Finansinspektionen, published a supervision report on financial instruments with cryptoassets as an underlying asset.
Sweden’s Finansinspektionen published a memorandum outlining the regulator’s priorities for 2021, including efforts to safeguard consumers’ interests and work to combat money laundering and terrorist financing in the Baltics and Sweden.
Sweden Censures Danske Bank for Risk Assessment Failures
Sweden’s Financial Supervisory Authority on Wednesday ordered the local subsidiary of Danske Bank to address significant deficiencies in its understanding of the financial-crime risks it faces by June 2022 to avoid an enforcement action.
German authorities split over FIU’s approach, German finance minister to testify on FIU-related raid, and more, in the weekly roundup.
European, UK AML Enforcement Remained Strong in 2020
The Financial Supervisory Authority of Sweden, Finansinspektionen, issued an injunction to take remedial action against the Sweden-based subsidiary of Danske Bank A/S, requiring it to assess how its products and services may be used for money laundering or terrorist financing.
The Disciplinary Committee at Nasdaq Stockholm ordered the Stockholm, Sweden-based bank to pay a fine of SEK 46.6 million, which is equivalent to twelve annual fees, for anti-money laundering shortcomings from December 2016 through February 2019.
| 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 |
| Rank : 64/133 |
| Score : 46/100 |