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Operation Spring: How Swedish authorities took out Sweden's biggest narco bank

Author

Listed:
  • Sohlén, Magnus

    (Head of Unit, Action Groups, Section, Investigations Division, Stockholm Region, Swedish Police Authority, Sweden)

Abstract

This paper is a case study of a multi-agency investigation of a currency exchange office that served as a bank for organised crime. The paper describes how the investigation was carried out, with inter-agency cooperation being a key factor in its success. The purpose of the paper is to inspire other law enforcement agencies to initiate this type of investigation, as exchange offices and hawala brokers act as facilitators for organised crime to transfer their criminal profits into new crimes, making it extremely important to combat them. The paper also highlights the need for supervisory authorities to be more effective in controlling these types of business activities as it is naïve to think that only criminal investigations will stop them. To achieve this, new legislation and better cooperation between authorities are needed.

Suggested Citation

  • Sohlén, Magnus, 2023. "Operation Spring: How Swedish authorities took out Sweden's biggest narco bank," Journal of Financial Compliance, Henry Stewart Publications, vol. 6(4), pages 346-356, June.
    • Handle: RePEc:aza:jfc000:y:2023:v:6:i:4:p:346-356
    as

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    More about this item

    Keywords

    organised crime; hawala; money laundering; Sweden; the Financial Supervisory Authority;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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