Within seven working days, the police targeted pawn shops, gold dealers, and currency exchange offices in Stockholm's city center to crack down on suspected money laundering.
Among other things, currency exchange offices have been identified as a key player for criminals to launder their money, says police operation chief David Södermalm at the local police area Norra innerstaden.
Bags seized
The majority of customers controlled by the police had no taxable income but still had large assets beyond cash.
It can be everything from expensive watches, designer clothes, and expensive bags – i.e., the type of luxury items that cost a lot of money.
Several of those now suspected of money laundering have previously been convicted of fraud or drug-related crimes.
The seizures involve 15-20 individuals, totaling seven million kronor.
It exceeded expectations. Of course, we knew that these businesses could be exploited by criminal individuals, but the result is clearly above expectations if you look at the value of the seizures in relation to the working days – one million per day.
The tip of the iceberg
David Södermalm also notes that the criminal economy generates billions, making the seizures just the tip of the iceberg.
There is so much money in the criminal economy that this is just a symptom of it, he says.
Many of the suspected individuals have also received benefits from the Social Insurance Agency, leading to several cases where the police have tipped off other authorities about suspected abuse of the welfare system.
