Finansinspektionen, Sweden’s financial supervisory authority, announced its plan to publish information about the supervision investigations it has opened as part an effort to increase transparency.
Sweden’s central bank, Riksbank, published a report on “Payments in Sweden 2020”, which focuses on how people in Sweden are increasingly relying on card or virtual payment systems over cash.
Lockdowns, Legal Changes and Leak Fatigue: the Year in AML
In the waning days of 2019, when news emerged that the novel coronavirus had begun spreading beyond Wuhan, China, few grasped the scale of the human tragedy, economic catastrophe and inspiring resilience that the coming year would witness.
A Plan for Mexico’s central bank to buy excess U.S. dollars draws AML concerns, U.S. travel-rule proposal could trigger demand letters, and more, in the midweek roundup.
Fintechs May Have Missed a Chance in the EU, Finland’s FIU Chief Says
Sweden’s Financial Supervisory Authority issued a SEK 1 billiona administrative fine against the Stockholm, Sweden-based financial institution for anti-money laundering deficiencies that resulted in the bank’s subsidiaries in the Baltics being exposed to elevated risks of money laundering.
Sweden’s Financial Supervisory Authority, Finansinspektionen, issued an administrative penalty against the Skövde, Sweden-based bank for its failure to comply with money laundering and terrorist financing requirements.
| 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 |