The Swedish government has tasked the country’s Financial Supervisory Authority with improving efforts to combat money laundering.
The government said it wants to strengthen AML facilities and further tackle the financing of terrorism, with more site visits one way the goal could be achieved.
Financial Markets minister Niklas Wykman said: “That money laundering supervision is accurate is important in order to access the criminal economy.
“An overly standardised supervision over broad areas can lead to poorer efficiency. Against this background, the Financial Supervisory Authority is now tasked with reporting on how money laundering supervision can be developed.
“At the same time, from the government's side, we will work to make our governance more effective.”
The Authority must report back with its progress on the matter by the end of this year, the Swedish government said.
Anti-money laundering and combatting the financing of terrorism has been a key priority for the government of late.
Last week, it proposed that the Swedish gambling regulator, Spelinspektionen, should be able to introduce a reporting obligation for players in the gambling market about transactions, customers and other conditions.
