Money laundering is the illegal process of making large amounts of money generated by criminal activity, such as drug trafficking or robbery, look like they originate from legal sources. The money is laundered through different steps or transactions
In Sweden the Anti Money Laundering Act (2017:630) indicates which natural and legal persons are covered by the legislation, that is all financial institutions, but also real estate agents, lawyers, accountants, gambling companies and shops selling very expensive goods.
The supervisory authorities are the Swedish Financial Supervisory Authority, the Swedish Gambling Authority, the Swedish Inspectorate of Auditors, the Swedish Estate Agents Inspectorate, the Swedish Bar Association and three of the Swedish County Administrative Board.
How to work with AML
This wheel illustrates the workflow for the firms to follow to be in line with the Anti Money Laundering Act. Read more at: https://www.fi.se/en/bank/money-laundering/