Investigation shows Russian criminals money laundering in Sweden
Russian criminals are using Sweden for money laundering, reports newspaper Dagens Nyheter.
A loophole in the law means Swedish authorities cannot check foreign citizens’ financial activities in Sweden in the same way it can check Swedish citizens.
Dagens Nyheter reports how companies are registered in Sweden and then used to launder money. The companies advertise their services and promise that it is easy to conduct money laundering operations in Sweden.
Swedish authorities have a hard time stopping convicted criminals from abroad from starting companies in Sweden.
Dagens Nyheter reports it is common for such companies started in Sweden to be owned by firms in tax havens such as Panama and the Seychelles. The companies in Sweden give the impression of being within Sweden’s financial regulation, simply by being registered here with the Swedish Companies’ Registration Office.
International bodies and Stockholm’s County Council have criticized these loopholes, but so far there has been no action form the government, reports Dagens Nyheter.
Radio Sweden spoke to Josefin Lind, a legal expert at the Stockholm county council board's oversight unit. She says usually their job is about helping companies to protect themselves against outsiders from trying to launder money through them, and it is assumed that companies themselves will be part of the fight against such crime.