penningtvättslagens

Penningtvättslagen is the Swedish term for the Anti-Money Laundering Act. This legislation establishes rules and obligations for businesses and individuals in Sweden to prevent money laundering and terrorist financing. The primary goal of the law is to disrupt the flow of illicit funds by making it more difficult for criminals to disguise the origins of their money.

The Penningtvättslagen requires a wide range of entities, known as "ringar av skyldiga verksamhetsutövare" (obliged entities), to implement measures to identify and report suspicious transactions. These entities include banks, financial institutions, real estate agents, accountants, lawyers, and businesses dealing in high-value goods. Key obligations include customer due diligence, which involves verifying the identity of customers and understanding the nature of their business relationships.

Furthermore, obliged entities must monitor transactions for any signs of unusual or suspicious activity. If such activity is detected, they are required to report it to the Financial Intelligence Unit (FIU) in Sweden. The law also mandates internal procedures, training for staff, and risk assessments to ensure compliance. Enforcement of the Penningtvättslagen is carried out by various supervisory authorities, such as Finansinspektionen (the Swedish Financial Supervisory Authority), and non-compliance can result in significant penalties. The law is regularly updated to align with international standards and evolving trends in financial crime.