Background & Purpose

To stop criminals from using companies to hide illegal money, Sweden has a register showing who actually owns them. However, the EU Court ruled that the general public cannot have unrestricted access to this sensitive information due to privacy concerns, meaning Sweden needs to update its laws.

The Decision

The Swedish parliament approved the government's proposal to introduce stricter rules on who can access the register of beneficial owners. This balances the need to fight financial crime with protecting individual privacy.

Does this affect you?

  • Company owners: Their personal information in the register will be better protected from public exposure, reducing the risk of identity theft or harassment.
  • Banks and financial institutions: They will face new, clearer procedures when requesting ownership data to verify their clients.
  • Government authorities: They will get a new legal gateway to access and share this information securely to fight financial crime.

In Practice

  • Stricter requirements will be introduced for anyone wanting to see who owns a company.
  • Access to the register will depend on who is asking, with different rules for banks, journalists, and authorities.
  • New confidentiality rules will protect sensitive personal data in the register from being leaked.
  • Authorities will retain the access they need to investigate money laundering and terrorism financing.