On 22 March this year, Finansinspektionen (“FI”) [the Swedish Financial Supervisory Authority] presented a report containing prioritised risks in money laundering and terrorist financing that will be the focus of FI’s supervision during the year. In the report, FI highlights both the risk of a higher threat level for terrorism in Sweden and certain sectors that are particularly vulnerable to money laundering. FI is thus particularly highlighting smaller or newly-established payment services and currency exchange companies where the procedures and processes for countering the risk of money laundering and terrorist financing are undeveloped or inadequate. Other sectors highlighted by FI include trading in crypto-assets, where the risk of money laundering is particularly high, and smaller and medium-sized banks, which become more vulnerable when criminal operators move away from the larger banks as those banks’ preventive work improves. Finally, FI also emphasises the importance of operators following the rapid developments regarding sanctions as a result of Russia’s invasion of Ukraine.
The Financial Supervisory Authority presents prioritised risks in money laundering and terrorist financing
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