Money laundering on the rise in Sweden
Published: 29 Apr 11 10:52 CET | Print version
Online: http://www.thelocal.se/33478/20110429/
Police statistics reveal a 30 percent increase in the number of reported cases of money laundering in Sweden for 2010, prompting calls for the creation of a new agency to combat the problem.
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Sweden has been criticised for not doing enough to combat this type of crimes and now the Swedish National Council for Crime Prevention (Brottsförebyggande rådet - Brå) is suggesting the creation a national financial intelligence centre to be shared by Swedish Police, Customs, Tax agency and Economic Crime Authority (Ekobrottsmyndigheten).
“This way we can free up resources, make use of each of the authorities’ expertise and increase the quality of operative intelligence,” Daniel Vesterhav, researcher at the crime prevention council, told SvD.
The report also shows that out of the 14,500 companies in Sweden obliged by law to report possible money laundering crimes within their own organisation, 90 percent of reports come from banks, foreign exchange companies and other money handling businesses.
But the number of unreported cases is believed to be large. Some businesses that the crime prevention council considers to be specifically targeted did not report a single case of suspected money laundering in 2010.
Last year, six out of a thousand car dealers, eight out of 6,100 real estate agents, and five out of 4,117 private accountants filed a money laundering report to the council.
Not one single tax adviser out of Sweden’s 159 obliged to report potential money laundering crimes to police filed a report last year.
According to the crime prevention council, this is likely because companies are reluctant to file a report based on suspicions or simply don’t understand what it is that the financial unit of the police is interested in.
“Many companies are worried that they may be threatened if it is known that they have reported a potential case," Vesterhav told SvD.
What do you think? Leave your comment below.
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But, I don't know why the police is a bit slow. Or may be its some process. Or may be the police is not used to such crimes. But anyway, it should at least start some investigation.
May be, the police just want to create employment opportunity for themselves.
Money laundry means converting dirty money (such as stolen one) into clean one. what happened to me (and still happening) that people sent me money and they want me to take some of it , and transfer the rest through western union.
anyway i called the police and they were really slow in their process , and i am worried that the people will contact me again asking for their money. The police are not only slow but they are also too cold that make you worried even if there is nothing to worry about. Sometimes i feel that it would be better if i have sent the money to the people, but in the end you cannot rest when you know that you are doing the wrong thing.
eg....extortion, prostitution,drugs trafficking,human trafficking,counterfeit notes, and many more. *ALL ML ARE FRAUDS BUT ALL FRAUDS ARE NOT ML*
@star10 there r 3 stages namely, placement, layering,and integration. stage 1 ML will be placed into the financial system without getting notice from competent authorities eg-i cant discuss via this forum....stage 2 ML will distract the placed funds into different location,furthermore its difficult for a laymen to understand this process. and stage 3 is integration by now ML funds are well placed for action...which means they can fund terrorism, buy WMD,invest in illegal business,corrupt economies so so
my personal note is that FI (financeinspectionen) must be place with high power supervision section 2 monitor and prosecute alleged offenders in its full capacity.
Please, loundry people it or let the money in the loundry come and meet me then i will know what is money loundry,or is loundry in the money .weather which one is which one but the idea is that money is good but very scarse.i dont think people have it to access until they are taking it to the
loundry man.