Police: money transfer app being used to finance crimes

2:40 min

Swedish police have warned criminals are using the mobile app Swish to launder money and finance crimes.

Martin Nordh, CEO of a company specialising in the prevention of financial crime, has no doubt this occurs on a daily basis.

He explains why criminals are exploiting Swish - and why closer monitoring would be in society's best interest.

In an e-mail to Swedish Television, Anna-Lena Wretman, the CEO for the company behind the app, says it is up to the banks themselves to report suspect activity. She adds that Swish has a "close dialogue" with banks, but did not provide further details on what the company does to prevent crime.