SWEDEN: Initiates the Fourth EU Anti-Money Laundering Directive

The Swedish Parliament has now transposed the Fourth EU Anti-Money Laundering Directive (4AMLD), into their national legislation with immediate effect. And so, private companies and other entities have to now register their beneficial owners with the Companies Registration Office in Sweden.

With regards to the 4AMLD, all legal persons and companies have to provide accurate information on their own beneficial ownership. These details will be expected to be made easily available to obliged entities and authorities (CBI) on request.

Existing legal entities need to advise no later than the 31st of January 2018. Moreover, legal entities set up after August 1st, will have four weeks from their foundation date to do so.

Under the 4AMLD, payment providers are confronted with lower due diligence boundaries for more stringent sanctions for violations, cash transactions, related references to electronic money and certain conditions in order to keep up to date with beneficial owners.


Cyprus:
+357 25 02 50 34
Singapore:
+65 62 47 71 92
Russia:
+7 812 458 46 22
Skype:
eltoma.0015