This regulation tightens the requirements on how financial undertakings determine the risk that they are being used for money laundering and the financing of terrorism. The undertakings must adapt their procedures and other measures to the risks they have identified. The regulations contain new requirements on functions for compliance and internal control and the features of the whistle-blowing system that all undertakings must have. The new regulations also require undertakings under supervision to submit necessary information to Finansinspektionen to facilitate the authority's risk classification of the undertaking.
The regulations are based on an EU Directive from 2015 and the new Money Laundering and the Financing of Terrorism (Prevention) Act (2017:630) that enters into force on 1 August 2017.
The new regulations enter into force on 1 August 2017.
FI clarifies in its regulations that an undertaking must identify and analyse retaliation acts in addition to threats and other hostile acts to protect employees and others. A disclosure has been inserted that there are provisions in the Anti-Money Laundering Act for a method to remotely verify the identity of a customer via electronic means. Furthermore, an undertaking's obligation to retain documents and information for ten years has been amended to not only apply to circumstances reported to the Swedish Police but also those reported to the Swedish Security Service. FI has also implemented some editorial changes.
FI is adapting the regulations to amendments to the Anti-Money Laundering Act primarily due to amendments to the Fourth Anti-Money Laundering Directive. Through its regulations, FI contributes to the implementation of amendments to the Directive.
The amendments enter into force on 1 January 2020. Amendment 2017:11