The Financial Action Task Force (FATF) has published a follow-up Report on Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) measures in Sweden. The Report focused on the implementation of FATF Recommendation 15 (R.15): Sweden has been downgraded from Compliant (C) to Largely Compliant (LC).
According to FATF, the threshold for occasional transactions, above which virtual asset service providers (VASPs) are required to carry out due diligence measures, is fixed at the equivalent of EUR 15,000 and there are no measures in place to ensure that VASPs obtain and hold required information on the originator and beneficiary with respect to VA transfers (not corresponding to FATF requirements for VASPs).
Finally, it is not clear whether appropriate sanctions apply given that fines have never been applied by the competent supervisory authority yet.
