Swedish Police Authority and the Financial Intelligence Unit Calls Crypto Exchanges Professional Money Launderers

The Swedish Police Authority and the Financial Intelligence Unit (FIU) have classified cryptocurrency exchanges as “professional money launderers (PML)” after analyzing services provided by unlicensed and illegal operators. According to the FIU, PMLs have criminal connections and facilitate numerous individuals and criminal networks in systematically laundering money. The FIU identified four profiles based on their analysis of these illicit activities: the node exchange provider, the hawala exchange provider, the asset exchange provider, and the platform exchange provider. The report emphasized the need for greater law enforcement involvement in monitoring crypto trading platforms to curb illegal services, stating: “FIU Sweden assesses