Result

2018

EU sanctions

2018-05-30 | Money laundering

Both financial firms and a considerable number of non-financial firms and professionals are obliged to follow the sanctions issued by the European Council, aimed at persons and entities suspected of involvement in acts of terrorism or collaborating with terrorists and persons linked to certain non-EU regimes.

Terrorist financing

2018-05-30 | Money laundering

Activities that constitute “terrorist financing” are described in the Money Laundering and Terrorist Financing (Prevention) Act (the Anti-Money Laundering Act).

Firms subject to the Act

2018-05-30 | Money laundering

Both financial firms and non-financial business operators are subject to the Money Laundering and Terrorist Financing (Prevention) Act.

FI Supervision 1: Experiences from money laundering supervision 2016–2017

It is FI’s assessment that firms in general have a greater awareness of the regulations than in previous investigations and are committing more resources to their work to prevent money laundering. But more needs to be done.

FI updates information about periodic reporting required by the Anti-Money Laundering Act

FI has updated the instructions and FAQs about the periodic reporting firms under Finansinspektionen’s supervision are required to file according to the Anti-Money Laundering Act.

Videos about anti-money laundering now in English

FI has translated into English its educational videos about efforts to combat money laundering and terrorist financing.

Monitoring

2018-01-29 | Money laundering

A firm shall review transactions in order to detect transactions and other activities that could be suspected to form an element of money laundering or terrorist financing.

Customer due diligence

2018-01-29 | Money laundering

The firm must possess solid knowledge about its customers and their affairs so as to make it more difficult for the business to be used for, and to prevent, money laundering or terrorist financing.

Training

2018-01-29 | Money laundering

A firm’s employees shall receive training to provide them with sufficient knowledge to follow the firm’s anti-money laundering procedures and guidelines.

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