The Financial Action Task Force (FATF) has completed an assessment of the implementation of its anti-money laundering and counter-terrorist financing standards in Sweden. Among its major findings were:
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Swedish legal structures in place to combat money laundering are generally sound; their level of effectiveness has yet to be fully tested.
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The terrorist financing offence is generally broad and effective.
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Customer identification requirements are in place for financial institutions; however, these measures could be further enhanced through a more comprehensive due diligence framework.
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The Swedish financial intelligence unit should be permitted to keep suspicious transaction report information for a longer period in order to increase its effectiveness.
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The supervisory regime regarding anti-money laundering and counter-terrorist financing measures could be enhanced for certain types of financial institutions (bureaux de change and money remittance services).
Click here to download the full report, (1,42Mb, pdf, English) or the summary only (269Kb, pdf, English).
Sweden is the seventh country to be examined in the FATF’s third series of mutual evaluations of its members.
For further information, journalists are invited to contact Helen Fisher, OECD Media Relations (tel.: +33 1 45 24 80 97 or helen.fisher@oecd.org) or the FATF Secretariat, 2, rue André-Pascal, 75775 Paris Cedex 16 (tel: +33 1 45 24 79 45, fax: +33 1 44 30 61 37 or email: contact@fatf-gafi.org).
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