Money laundering is the process of disguising the origins of funds obtained through illegal activities by making them appear legitimate. This is commonly done to integrate illicit funds into the legal financial system.
Key facts:
Common sources of illegally obtained funds include drug trafficking, corruption, fraud, embezzlement, and illegal gambling.
Money laundering enables organized crime and undermines the integrity of financial institutions and legal economies.
It is a criminal offence in most jurisdictions, with strict regulations and enforcement.
The process typically involves three stages:
Placement: Introducing illegal funds into the financial system.
Layering: Moving and disguising the funds through multiple transactions, accounts, or businesses.
Integration: Reintegrating the now-distanced funds into the legal economy, making them appear legitimate.
Intergiro's Anti-Money Laundering (AML) Approach
Intergiro follows robust AML and Counter-Terrorism Financing (CTF) standards in line with the Swedish Act (2017:630) and regulations from the Swedish Financial Supervisory Authority.
All employees, from the onboarding team to the Board of Directors, are responsible for maintaining high standards of AML compliance.
A Money Laundering Reporting Officer (MLRO) oversees AML systems, ensuring procedures are updated and regulatory obligations are met.
Regular risk assessments, ongoing transaction monitoring, and cooperation with authorities are core components of Intergiro’s AML framework.
Why is AML important?
Protects financial institutions and customers from being exploited by criminals.
Reinforces trust in the financial system.
Fulfills national and international regulatory requirements, helping prevent crime and terrorism.