Sweden's Fight Against Money Laundering: Innovations and Solutions

During the Anti-Money Laundering Days (Penningtvättsdagarna) held in Stockholm on April 24-25, 2023, professionals and thought leaders from various sectors and businesses convened to address the pressing issue of financial crimes and money laundering. Tietoevry Banking was among the participants, showcasing its innovative solutions and engaging in critical discussions.

Key Insights from the Event

Combating money laundering is no longer just a matter of regulatory compliance.
Preventing severe criminal activities such as drug trafficking, shootings, bombings, and terrorism is essential.
Criminals have become increasingly sophisticated, turning crime into a professional service.
Transitioning from trust-based to control-based processes, laws, and guidelines is vital.
Money laundering is a global, cross-border challenge that affects different sectors in various ways.

The Landscape of Financial Crimes

Approximately SEK 130 billion is laundered annually in Sweden.
To tackle this issue, Tietoevry Banking provides services that enable small and medium-sized banks to effectively counteract such activities.
Data plays a pivotal role in combating money laundering.

Improving Data Quality and Sourcing

Detecting money laundering activities requires high-quality data.
Efforts to reduce false positives are ongoing.

Global Impact of Money Laundering

Money laundering accounts for approximately 2.5% of the global GDP.
National and international initiatives are being undertaken to combat money laundering.

Strategic Partnerships and Communication

Effective communication and strategic partnerships between client banks and technology providers are crucial.
Tietoevry Banking offers comprehensive solutions for early detection and prevention of fraud and money laundering.

Comprehensive Solutions for Financial Security

Tietoevry Banking’s leading software employs machine learning and AI technology.
A dedicated team is available 24/7 to monitor transactions and applications.

As the fight against financial crimes continues to be a significant challenge, we invite you to share your thoughts and discuss how Tietoevry Banking’s services could support your organization. Reach out to us for more information.