Swedish Police Label Crypto Exchanges ‘Professional Money Launderers’ in Crackdown
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
The Swedish Police Authority, in collaboration with the Financial Intelligence Unit (FIU), has labeled certain cryptocurrency exchanges as “professional money launderers” (PMLs) in a recent crackdown targeting unlicensed and illegal operators.
According to the FIU, these exchanges are suspected of having criminal ties and facilitating systematic money laundering for individuals and organized crime networks.
In its analysis, the FIU classified PMLs into four distinct profiles based on their operational characteristics, including node exchange providers, hawala exchange providers, asset exchange providers, and platform exchange providers.
The Swedish Police Authority and Financial Intelligence Unit (FIU) has classified cryptocurrency exchanges as “professional money launderers (PML)
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The FIU highlighted the need for enhanced law enforcement presence and intervention on crypto trading platforms to combat these illicit activities.
“FIU Sweden assesses illicit cryptocurrency providers as an emerging threat within money laundering schemes and a crucial part for organized crime to maintain and expand their criminal markets,” the report stated.
While cracking down on illegal activities, Swedish authorities also acknowledged the positive role of licensed and legitimate crypto exchanges in mitigating money laundering risks.
They urged these compliant platforms to remain vigilant, monitor suspicious trading patterns, and take proactive measures such as halting
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