Financial Crime World

Title: Kommuninvest i Sverige AB’s Committment to Combating Financial Crime: New Policies and Procedures

Subtitle: A Leading Swedish Investment Company’s Approach to Preventing Money Laundering, Terrorist Financing, Fraud, and Corruption

Kommuninvest i Sverige AB, a leading Swedish investment firm, reinforces its stance against financial crime through a suite of new policies and guidelines. This commitment conforms to both national and European regulations, including:

  • Money Laundering and Terrorist Financing (Prevention) Act (2017:630)
  • Act on Certain International Sanctions (1996:95)
  • Various European Union guidelines

This commitment aims to:

  • Prevent and mitigate risks related to money laundering, terrorist financing, fraud, and corruption
  • Ensure compliance with all applicable laws and regulations

Governance Documents and Risk Assessment

The Company’s Board of Directors prioritizes good governance and internal control:

  • Adopts policies, instructions, and regulations adopted by the Board, CEO, or respective managers
  • Ensures the Company remains compliant with all applicable laws and regulations
  • Requires annual assessments to improve its risk management and regulatory compliance systems

Risk-based Approach: Assessment and Preventative Measures

Kommuninvest i Sverige AB focuses on a risk-based approach:

  • Regular assessment of operations and customers’ risk profiles
  • Prioritization of enhanced due diligence and restrictions on certain products or services based on risk levels
  • Adherence to relevant regulations and international sanctions

whistleblowing, Training, and Confidentiality

The company prioritizes:

  • Protecting employees and others from retaliation
  • Providing training and guidelines through a Code of Conduct
  • Ensuring the confidentiality and retention of data

Three-lines-of-defense Approach: Monitoring and Verification

Kommuninvest i Sverige AB employs a three-lines-of-defense approach:

  • A Specially Appointed Executive
  • An Appointed Officer for Controlling and Reporting Obligations
  • An Internal Audit function

This structure enables efficient monitoring, reporting, and verification of financial crime prevention measures.