Money-laundering and terrorism

The money-laundering act was introduced in order to prevent financial and other activities being exploited for money-laundering and the financing of terrorism.

Money-laundering and the financing of terrorism concern crimes that represent a serious threat to the social economy and the financial system on which our security and democracy depend.

As part of its oversight, the SIA checks that auditors comply with their obligations in accordance with money-laundering legislation, and the authority can take disciplinary action in case of non-compliance with money-laundering legislation. The SIA also has an obligation to report suspected transactions uncovered by the authority's inspection activities.

The SIA is represented in the Coordinating function for actions against money-laundering and the financing of terrorism. Among other things, this coordinating function has the task of identifying, charting and analysing the risks and methods involved in money-laundering and the financing of terrorism in Sweden, and compiling national risk assessments for money-laundering and the financing of terrorism. The function is also required to provide information to operators and to function as a forum for information-sharing and the transfer of knowledge for those authorities that carry out supervisory activities in accordance with money-laundering legislation. The coordinating body has published a pamphlet in 2017 about the duty of reporting, which is aimed at all operators, including auditors. The pamphlet can be downloaded here.