The Swedish Financial Supervisory Authority published remarks by Malin Alpen, Head of Payments, from a panel discussion at Money Laundering Days, calling for coordinated efforts to stop criminals exploiting the financial system for crime and money laundering and indicating that further regulatory tightening may be needed. Finansinspektionen framed limiting the criminal economy and illegal financial flows as a supervisory priority, while underlining that financial firms carry the responsibility for meeting anti-money laundering and counter-terrorist financing requirements and that the authority’s role is to supervise and review compliance in close cooperation with law enforcement. Alpen also highlighted a rapid increase in proceeds from fraud and said the authority is following how banks implement measures presented in 2024 to counter payment services fraud and improve security, while pointing to a need for tougher bank requirements to prevent such fraud. At EU level, negotiations on a new rule package were cited as including proposals to raise expectations for how banks and financial firms protect consumers, alongside the forthcoming EU Anti-Money Laundering Authority (AMLA), which is expected to further centralise supervision and rule development and support stronger cross-border supervisory cooperation. Next steps referenced in the remarks include ongoing EU negotiations and a set of legislative proposals in preparation that could translate into new rules or tools for anti-money laundering supervision and fraud prevention.
Finansinspektionen 2025-03-12
Swedish Financial Supervisory Authority flags need for stronger bank requirements and joint action against money laundering and payment fraud
The Swedish Financial Supervisory Authority stressed coordinated efforts to combat financial crime and money laundering, with potential regulatory tightening. Malin Alpen highlighted the priority of limiting illegal financial flows and the responsibility of firms to meet anti-money laundering requirements. EU negotiations on new rules and the forthcoming EU Anti-Money Laundering Authority are expected to enhance cross-border supervision and consumer protection.