FI has analysed and compared information that firms under FI’s money laundering supervision reported to the authority during the years 2018-2021. The analysis indicates areas where the companies need to develop their processes to better handle the risk of being misused for money laundering or terrorist financing.
Finansinspektionen (FI) strengthened its anti-money laundering supervision in 2019, in part by dedicating considerable resources to reviewing major Swedish banks’ governance and control of anti-money laundering measures in Baltic subsidiaries.
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.
The national risk assessment regarding the financing of terrorism that was published in June 2014 identified a need to increase knowledge and awareness about the financing of terrorism.
The SMS loan companies report that they have improved their routines to identify their customers after an investigation by Finansinspektionen.
Finansinspektionen (FI) has studied how well companies in the finance sector are complying with the rules governing the combating of money laundering and terrorist financing.
Four out of five of the reviewed insurance intermediaries* do not adhere to the rules that by law pertain to their business. By law, insurance intermediaries must check employees’ conscientiousness and competence, and the checks must be documented. They must also establish internal rules to prevent money laundering.