Sweden’s Justice Minister is Gunnar Strömmer of the Moderate Party. Recently, he urged authorities to increase measures to seize criminal assets. Specifically, he directed the Police Authority, Tax Agency, and Enforcement Authority to pursue illegal activity-acquired profit, including crypto like Bitcoin.
Strömmer referred to how important it is to apply last November’s new forfeiture statute. The statute allows authorities to forfeit assets without necessarily having to prove in court that a specific crime was committed. It empowers the police to act when individuals cannot clearly explain how digital assets originated.
He also called on the agencies to step up collaboration and go after assets yielding massive financial proceeds with criminal techniques. This includes applying digital forensics technology to identify illicit crypto wallets and networks used by organized crime groups all over the country.
Gunnar Strömmer explained that current law in Sweden is one of the strictest in Europe for freezing assets of criminals. Since it was implemented, Sweden has so far made asset recoveries of $8.4 million or approximately 80 million kronor using the new guidelines.
New legislation also encompasses individuals affected by severe mental illness and children in situations where their assets are apparently suspicious or unjustified. Sweden proves its liberal stance by actively fighting economic crimes involving emerging digital currencies.
Crypto seizures target criminal networks in sweden
Meanwhile, political momentum is building in the Riksdag to transform confiscated Bitcoin into a national reserve. Sweden Democrat Dennis Dioukarev recently proposed that all seized cryptocurrency should be transferred to the Riksbank. He believes this approach could help build a strategic Bitcoin reserve, similar to steps taken by the U.S. and Czech Republic.
Dioukarev supports the government’s crackdown, stating that tough action will discourage organized crime and weaken money laundering operations. However, the Justice Minister’s press office declined to comment on how confiscated crypto assets will be managed in the future.
In 2024, Bloomsbury Intelligence stated that 62,000 individuals were involved with criminal groups in Sweden. Drug trafficking and money laundering gangs are increasingly using cryptocurrency to mask economic activity according to authorities.
In September 2024, a report by Financial Intelligence Unit also validated that some of the crypto exchanges are money-laundering centers. It was also advised by investigators to increase surveillance of websites often used for unlawful digital currency transfers.
