Swedish Firms Must Comply with Annual Anti-Money Laundering Reporting Deadline Looms
Overview
The Swedish Financial Supervisory Authority (Finansinspektionen) is reminding all undertakings subject to the Swedish Anti-Money Laundering Act of their obligation to submit an annual report on compliance with anti-money laundering regulations. The deadline for submission is March 31st.
Reporting Requirements
- Reports must be filed through Finansinspektionen’s new FIDAC reporting system, accessible online
- Deadline for the first report: March 31st
- Balance sheet date for reports: December 31st, 2023
- Reports will require information on compliance with anti-money laundering regulations
Changes to Reporting System
- Some questions have been removed or rephrased in the reporting system this year
- Firms can access guidance on the reporting process through Finansinspektionen’s website
- English translation of reporting questions available online
- Technical support for firms experiencing difficulties with the reporting system
Additional Resources and Support
- For further assistance on interpretation of reporting questions or concerns about reporting obligations, firms are encouraged to contact periodiskrapporteringpenningtvatt@fi.se
Purpose of Reporting
The move is part of efforts by Finansinspektionen to improve transparency and combat money laundering in the financial sector. Firms failing to comply with the reporting requirements may face penalties and fines.
Conclusion
Swedish firms are urged to take note of the deadline for annual anti-money laundering reporting and ensure compliance with regulations. With guidance and support available, firms can navigate the reporting process successfully.