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Sweden’s system for combating money laundering and terrorist financing maintains high standards according to FATF
Sweden’s system for combating money laundering and terrorist financing has been evaluated by the international organisation Financial Action Task Force (FATF).
"We will stop all possibilities for criminals to launder their money or transfer funds to terrorism through the Swedish financial system. The evaluation shows that Sweden's system for combating money laundering and terrorist financing maintains high standards," says Minister for Financial Markets Per Bolund.
Over a period of fifteen months, a number of international experts conducted a thorough review of Sweden's legislation in the area. In addition, some one hundred representatives of the public, private and non-profit sectors were interviewed to assess Sweden's effectiveness in combating money laundering and terrorist financing.
"These efforts continue tirelessly. We recently proposed new money laundering legislation that will be more effective, as well as a new act on beneficial owners that increases transparency into company owners and makes it more difficult to hide behind a legal person," says Mr Bolund.
The evaluation examines how well Swedish law complies with the FATF Recommendations and contains a detailed review of the Swedish system.
About the FATF:
The Financial Action Task Force (FATF) was established in 1989. Sweden is a member, together with 34 other countries, the European Commission and the Cooperation Council for the Arab States of the Gulf (GCC). The FATF sets detailed requirements on countries' systems for combating money laundering and terrorist financing, and monitors these requirements through regular in-depth reviews.
Press Secretary to Minister for Financial Markets and Consumer Affairs Per Bolund
Phone (switchboard) +46 8 405 10 00
Financial Market Department
Phone +48 8 405 52 08
email to Markus Forsman, via senior registry clerk