News Desk · Typologies

Swedish financial police map SEK 2.9 billion in suspected laundering by Russian networks

A report by Finanspolisen, the financial police unit of the Swedish Police Authority, says the systematic money laundering of Russian organised crime is continuing. A joint operation with several banks analysed SEK 2.9 billion in suspicious transactions moved mainly through false invoices and conduit companies.

TypologiesSweden2026-103 min read

Finanspolisen, the financial police unit of the Swedish Police Authority (Polismyndigheten), has published a report dated October 2026 titled "Penningtvätt i industriell skala" (money laundering on an industrial scale). Its subtitle says the systematic money laundering of Russian organised crime is continuing. The report draws on a time-limited operation with several banks in which information that is normally kept confidential was shared. Finanspolisen carried out the work together with Finuc, the Financial Intelligence Centre set up on 1 April 2025 as a cooperation between the Swedish Police Authority, the Swedish Tax Agency (Skatteverket), the Swedish Economic Crime Authority (Ekobrottsmyndigheten) and private actors.

The report says suspicious transactions worth SEK 2.9 billion were analysed, and more than 3,000 unique suspected persons and companies were included in the material. According to the report, the scheme works mainly through false invoices, using a large number of conduit companies (in Swedish, slussbolag) that pass money on. Cash made up only two percent of the suspicious flows in the operation.

For outgoing international payments, the report says the largest recipient countries were Lithuania, Poland, Ireland and the United Kingdom. It says business transfers to Paysera and Revolut dominate where Lithuania is the recipient, and that Ireland stands out for card transactions to Revolut and Paysend. The report says direct crypto transactions from Swedish banks were marginal, and that funds were likely moved abroad, for example to Revolut, before being exchanged for crypto.

According to the report, the operation led to more than 1,000 accounts being closed, nearly 200 customers being refused, and just over SEK 50 million being placed under disposition bans (dispositionsförbud, an order that stops the account holder from moving the money). The report also says digital banking services for onboarding and account opening make this type of crime considerably easier.

Why it matters to AML professionals

The report shows how laundering networks use many ordinary-looking companies and false invoices to make criminal money look like normal business payments. For AML professionals, the risk often sits in business accounts that pay each other for services that may never have been provided, and in fast cross-border transfers to payment institutions. Public-private operations like this one also show how sharing information between banks can reveal networks that no single bank sees on its own.

Red flags in this case

A business account receiving many payments for vague services, such as consulting or subcontracting, quickly followed by outgoing transfers
Several companies sharing directors, addresses or contact details and paying each other in circular patterns
Recently formed or newly taken-over companies with sudden high turnover and few signs of real operations
Regular transfers from a company account to accounts at foreign neobanks or payment institutions soon after funds arrive

If this landed in your queue

Ask for evidence that invoiced services were actually delivered, such as contracts, staff records or project details
Map linked companies through shared directors, beneficial owners, addresses and counterparties to see if the alert is part of a wider network
Check recent changes to directors, signatories or beneficial owners and refresh customer due diligence where they have changed
Escalate and consider a suspicious activity report if the flows show pass-through behaviour with no clear business purpose

Key terms

Conduit company (slussbolag): A company used mainly to pass money through, often issuing false invoices, so that criminal funds look like normal business payments.
False invoicing: Billing for goods or services that were never provided, used to move and disguise money.
Disposition ban (dispositionsförbud): A Swedish order that temporarily stops an account holder from moving funds while suspicion is examined.

Interview angle

How would you spot a company account being used as a conduit for laundering through false invoices?

Mention rapid in-and-out flows, vague invoice descriptions, links to other companies through shared directors or addresses, turnover that does not fit the business profile, and transfers abroad soon after funds arrive. Then explain how you would check the business rationale and escalate.

Sources

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Every fact in AMLift News Desk stories comes from an official source: a regulator, court, government gazette or the company's own filing.