Source: Government of Sweden
An overview of legislation currently in force
The Swedish government works continuously with strengthening the system for combatting money laundering and terrorist financing. Since 2017, a new Act on Measures against Money Laundering and Terrorist Financing and a new Act on the Registration of Beneficial Ownership are in force, and during 2019, two legislative bills containing proposals for further reform have been submitted to the Riksdag.
A number of agencies have different tasks in the system for combatting money laundering and terrorist financing. Within the framework of the preventive system, there are also stringent requirements on large parts of the private sector. Detecting attempted money laundering or terrorist financing is comparable to finding a needle in a haystack—the more who are looking, the better their tools and the better their cooperation, the easier it becomes to find the needle.
Anyone involved in the system for combatting money laundering and terrorist financing will find it useful to know what risks the Swedish and international financial systems are exposed to. The better your knowledge of your own risks, the more effective and strategic measures you can take to mitigate them. Swedish and international agencies and organisations regularly produce risk assessments for money laundering and terrorist financing.
Since 2014, Sweden has a national strategy for an effective regime for combatting money laundering and terrorist financing. The strategy is based on the available knowledge on the threats, vulnerabilities and risks that Sweden is exposed to. Its purpose is to define the goals, priorities and measures necessary in the short and somewhat longer term.
There is also a national counter-terrorism strategy which complements the counter-terrorist financing work.
Central FATF documents
The FATF continuously publishes different types of guidance documents for the public or private sectors.
Risk-based Approach for the Banking Sector
Risk-based Approach for Legal Professionals
Risk-based Approach for Trust and Company Service Providers
Risk-based Approach for the Accounting Profession
Risk-based Approach Guidance for the Life Insurance Sector
Risk-based Approach Guidance for the Securities Sector
Guidance for a Risk-based Approach to Virtual Assets and Virtual Asset Service Providers
Guidance for a Risk-Based Approach for Money or Value Transfer Services
Terrorist Financing Risk Assessment Guidance
Financing of the Terrorist Organisation Islamic State in Iraq and the Levant
Terrorist Financing in West and Central Africa
Financing of Recruitment for Terrorist Purposes
Risk of terrorist abuse in non-profit organisations
Best Practices on Combating the Abuse of Non-Profit Organisations (Recommendation 8)
Criminalising Terrorist Financing
Professional Money Laundering
Financial Flows from Human Trafficking
Financial flows linked to the production and trafficking of Afghan opiates
Money laundering and terrorist financing through trade in diamonds
Money laundering and terrorist financing risks and vulnerabilities associated with gold
Press releases from FATF Plenaries and Ministerial meetings
June 2019: Outcomes of the FATF Plenary, 16–21 June 2019
April 2019: FATF Ministers give FATF an open-ended Mandate
February 2019: Outcomes of the FATF Plenary, 20–22 February 2019
October 2018: Outcomes of the FATF Plenary, 17–19 October 2018
June 2018: Outcomes of the FATF-MENAFATF Joint Plenary
April 2018: International conference on combating the financing of Daesh and Al-Qaeda
February 2018: Outcomes of the FATF Plenary, 21–23 February 2018
November 2017: Outcomes of the Joint FATF/GAFILAT Plenary, Buenos Aires, 1–3 November 2017
June 2017: Outcomes of the Plenary meeting of the FATF, Valencia
February 2017: Outcomes of the Plenary meeting of the FATF, Paris
October 2016: Outcomes of the Plenary meeting of the FATF, Paris
June 2016: Outcomes of the Plenary meeting of the FATF, Busan Korea
February 2016: Outcomes of the Plenary meeting of the FATF, Paris
December 2015: The Financial Action Task Force leads renewed global effort to counter terrorist financing
October 2015: Outcomes of the FATF Plenary meeting, Paris
June 2015: Outcomes of the Plenary meeting of the FATF, Brisbane
February 2015: Outcomes of the Plenary meeting of the FATF, Paris
FATF assessments of member countries
Between 2012 and ca 2024, all the countries of the world will be assessed pursuant to the FATF’s methodology. This list contains the results for all FATF members.
Press release: God nivå på Sveriges system för bekämpning av penningtvätt och finansiering av terrorism enligt FATF (Good effectiveness in Sweden’s system for combatting money laundering and terrorist financing according to the FATF, in Swedish)
Australia (3rd follow-up report)
Austria (first) (3rd follow-up report)
Belgium (first follow-up report)
Denmark (first follow-up report)
Italy (first follow-up report)
Malaysia (first follow-up report)
Norway (first) (second follow-up report)
Spain (first follow-up report)