According to PANews, the Swedish Police and Financial Intelligence Unit (FIU) have categorized cryptocurrency exchanges as 'professional money launderers' (PML) following an analysis of services provided by unlicensed and illegal operators.
The Swedish FIU reported that the Pakistan Muslim League is linked to criminals and facilitates systematic money laundering for individuals and criminal networks. Based on their characteristics, the FIU classifies PML into four categories: node exchange providers, hawala exchange providers, asset exchange providers, and platform exchange providers. The report calls for increased law enforcement involvement and regulation of crypto trading platforms to curb illegal services. It also highlights that illegal cryptocurrency providers are seen as an emerging threat in money laundering schemes and a crucial part of organized crime's efforts to sustain and expand criminal markets.
On the other hand, Swedish authorities acknowledge that licensed and legitimate cryptocurrency trading platforms play a role in curbing money laundering activities, as these platforms operate without criminal intent. Authorities urge these entities to monitor users' suspicious transaction patterns and take necessary actions, including halting transactions and withdrawing customers.
