March 10, 2017
A new registry targeting money launderers and tax avoiders will oblige most Swedish legal entities to provide details identifying who ultimately owns or controls them.
The registry is part of the Swedish Finance Ministry’s plans to implement the European Union’s updated Fourth Anti-Money Laundering Directive, or MLD4 (2016/0208) into domestic law. This will oblige all EU member states to store identities of the beneficial owners of companies in a central database.
Ownership details of companies that carry out cash transactions of over 5,000 euros ($5,296) will also have to be included in the registry, according to information provided March 8 to Bloomberg BNA by Sweden’s Finance.