FFFS 2009:1

Regulations and general guidelines governing measures against money laundering and terrorist financing

Repealed 2017-08-01 see FFFS 2017:11

Summary

More stringent requirements are being imposed for financial institutions to make an assessment of the risk that they are used for money laundering and terrorist financing. The new regulations also entail that the institutions shall be well acquainted with their customers and their customers' transactions.

The regulations are based on the Act on Measures against Money Laundering and Terrorist Financing (2009:62). Together with this Act, they also implement the third money laundering directive, Directive 2005/06/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing.

These regulations replace FFFS 2005:5 regarding measures against money laundering and financing of particularly serious crimes.

Please note that there is a typographical error in Chapter 4, section 12, subsection 4, last sentence. Refer to the correction sheet.

Amendments

The scope of the regulations and general guidelines is expanded to also include mortgage business in accordance with the Mortgage Business Act (2016:1024). The amendments enter into force on 1 January 2017. Amendment 2016:30

Finansinspektionen decided on amendments to Finansinspektionen's regulations and general guidelines (FFFS 2009:1) regarding measures against money laundering and financing of terrorism. The amendments pertain to the undertakings' risk assessments, identification of politically exposed persons, risk assessments of politically exposed persons who have ceased to exercise their functions and archived information. A number of editorial changes were also made.

The amendments enter into force on 1 December 2015. amendment 2015:7

FI decided to repeal Chapter 4, sections 14–17 of Finansinspektionen's regulations and general guidelines (FFFS 2009:1) regarding measures against money laundering and financing of terrorism (the anti-money laundering regulations). FI also decided on several editorial changes to the anti-money laundering regulations as a result of the repeal of the provisions in Chapter 4, sections 14–17. The editorial changes have not significantly altered the content.

The amendments to the regulations will enter into force on 1 August 2015.

The reason behind the amendments is that Parliament passed amendments to the Money Laundering and Terrorist Financing (Prevention) Act (2009:62) (the Anti-Money Laundering Act). These amendments include the introduction into the act of the definition of a politically exposed person as well as this person's family members and known colleagues. The regulation for when a politically exposed person has ceased to exercise his or her functions has also been introduced into the act. The amendments to the act enter into force on 1 August 2015.

The amendments to the Anti-Money Laundering Act require additional changes to the anti-money laundering regulations. Finansinspektionen will therefore propose additional amendments that will be submitted for consultation in 2015. amendment 2015:6

The scope is expanded to also include payment institutions, registered payment service providers and branches of foreign payment institutions. This amendment is a result of the change in the Money Laundering and Terrorist Financing Prevention Act (2009:62), which is being amended in conjunction with the implementation of the EC Directive on payment services in the internal market. The amendment will enter into force on 1 August 2010. Amendment 2010:5

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