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.
Accusations and Investigation
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.
Tax Agency Involvement
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.
Calls for Increased Oversight
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.
Thus, Swedish authorities plan to implement measures to enhance control over cryptocurrency platforms to combat money laundering and improve tax compliance.
Comments