Every year, organized crime smuggles multi-billion dollar amounts of cash across borders. It is partly about investing in new crime, such as buying new batches of drugs. Partly about laundering money, which is often easier to do abroad. It is the task of the customs to stop the smuggling – because the cash has to cross Sweden’s borders.
When Task Review follows customs’ work on site at Arlanda, shortcomings in the legislation are revealed. Several checks lead to suspicions of money laundering. But customs lacks its own powers to investigate money laundering and is dependent on the police to intervene. At this time the police cannot assist.
– It is frustrating to know that this may be money that comes from drug trafficking that is to be taken out of the country and then laundered – and then we have to let it go, says customs officer Olivia.
“Political decisions are needed”
It is also possible for anyone to take out unlimited amounts of cash without notification if traveling within the EU. Despite the fact that the customs at Arlanda know that a lot of criminal money goes to destinations such as Spain and Holland.
– Political decisions are needed, says customs group manager Adam.
Denmark has invested in combating cash smuggling. All amounts over 10,000 euros must be reported here – also for travelers within the EU. The authorities also monitor how much Danish kroner is bought back. That control has revealed how much is actually smuggled and has led to banks no longer wanting to buy back cash from abroad because of the risk of money laundering.
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“That’s how it should already be in Sweden”. Hear Financial Markets Minister Niklas Wykman about the legislation against cash smuggling. Photo: SVT
In Sweden, there is no such system. There is a lack of laws and coordination between authorities.
– We need to have an authority that is responsible for having control over our cash and what moves across borders, says Lena Palmklint, head of the Financial Police.