Sweden’s financial supervisory authority, Finansinspektionen, announced new sanctions against Russian actors involved in the invasion of Ukraine.
Finansinspektionen, the Financial Supervisory Authority of Sweden, outlined its priority areas of focus for 2022, highlighting that it will apply a risk-based approach to supervision that ensures the most focus remains on areas with the largest risks.
European AML Enforcement Plateaued Last Year
Enforcement of anti-money laundering rules trended slightly downward in Europe in 2022, but blockbuster, financial crime-related criminal penalties and settlements in France and the United Kingdom buoyed the overall drop in AML regulatory actions.
Two businessmen charged with hiding yacht’s links to blacklisted oligarch, U.S. regulator fines Popular Bank, and more, in the weekly roundup.
Former Swedbank Chief Acquitted Over AML Disclosures
Finansinspektionen, Sweden’s financial supervisory authority, imposed a SEK 90 million penalty and issued a remark to the Stockholm, Sweden-based financial institution for failing to comply with anti-money laundering and counterterrorist financing rules.
Finansinspektionen, Sweden’s financial supervisory authority, identified deficiencies in the foreign payment institution’s work to combat money laundering and terrorist financing and issued an injunction requiring it to take remedial action by no later than Dec. 30, 2022.
| 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 |