Swedish Authorities Label Crypto Exchanges as “Professional Money Launderers”

The Swedish Police Authority, in collaboration with the Financial Intelligence Unit (FIU), has declared that certain cryptocurrency exchanges are acting as “professional money launderers” (PMLs). This announcement comes as part of a significant crackdown on unlicensed and illegal operators.

According to the FIU’s analysis, these exchanges are suspected of having ties to criminal organizations and facilitating systematic money laundering for individuals and organized crime networks. Four main PML profiles were identified, including node and platform exchange providers.

Authorities are calling for increased law enforcement presence and intervention on cryptocurrency platforms. Additionally, compliant exchanges are urged to remain vigilant, monitor suspicious activities, and take action to block transactions associated with illegal activities.

In parallel efforts, the Swedish Tax Agency found that 18 out of 21 crypto-mining firms submitted misleading or incomplete tax information, resulting in an estimated $90 million in unpaid taxes.