Featured Sweden

Compliance professionals in many large organizations are faced with a dilemma: is it possible to maintain the clarity of a single global compliance policy while still complying with the increasingly divergent local laws? Read More
25th September 2018
Swedish truckmaker AB Volvo has stopped assembling trucks in Iran because U.S. sanctions are preventing it from being paid, a spokesman for the company said on Monday. The sanctions against Iran, reimposed on Aug. 6 by U.S. President Donald Trump after his decision to pull out of a nuclear deal… Read More
1st August 2018
AP — Thieves in Sweden walked into a small town’s medieval cathedral in broad daylight and made off with priceless crown jewels dating back to the early 1600s before escaping by speedboat, police said Wednesday. Two men vanished after the heist into a vast patchwork of… Read More
Compliance professionals in many large organizations are faced with a dilemma: is it possible to maintain the clarity of a single global compliance policy while still complying with the increasingly divergent local laws? Read More
30th May 2017
The study finds that the 1000 richest families in Scandinavia have withheld as much as 32 percent of the taxes they would otherwise have been required to pay. This means that the wealth gap in Scandinavia in the last ten years has increased more than previously thought. The revelation has made big… Read More
18th May 2017
The biggest bank in the Nordic region says this month’s ransomware attack underscores the need for lawmakers to look more closely at bitcoin’s role in financial crime. Nordea Bank AB, whose chief risk officer, Julie Galbo, testified to the Danish parliament on Tuesday in response to questions about management’s efforts… Read More
17th January 2017
The World Economic Forum has released its 2017 "Inclusive Growth and Development Report" — a major look into how nations around the world can best ensure that their businesses and institutions function as efficiently as possible. Read More
20th July 2016
Nordea, a Nordic bank named in the Panama Papers tax evasion scandal, conceded on Wednesday that it had not done enough in some cases to safeguard fully against crimes such as money laundering. The region’s biggest lender said an internal investigation found many of the files it had reviewed clearly… Read More
14th July 2016
Earlier this week Spotify employees spoke out anonymously to reveal internal issues within the company. Even though Sweden is the third least corrupt nation in the world according to Transparency International’s annual Corruption Perceptions Index, such stories are far from unheard of. The Panama Papers scandal caught at least one… Read More
23rd June 2016
Ericsson AB will face demands for details about government probes into alleged bribery in its business when the wireless-network maker meets with shareholders on Thursday about its anti-corruption program. Investors, including Nordea Bank AB, expect to get more information on what types of… Read More
20th June 2016
Greek authorities are investigating seven employees of the Swedish telecoms giant Ericsson on suspicion of corruption, the company said Sunday, just days after it confirmed a separate US-led graft probe. Investigators are probing Greece’s purchase of radar technology in 1999 from Ericsson Microwave Systems, a subsidiary that was sold… Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More