The Swedish Police and Financial Intelligence Unit (FIU) have classified cryptocurrency exchanges as “professional money launderers (PML)” after analyzing the services provided by unlicensed and illegal providers. According to the Swedish Financial Intelligence Unit, the Pakistan Muslim League has links with criminals and enables multiple individuals and criminal networks to systematically launder money. Based on the analysis of their basic characteristics, the Financial Intelligence Unit has classified PMLs into four categories: node exchange providers, hawala exchange providers, asset exchange providers, and platform exchange providers. The report calls on law enforcement to increase involvement and supervision of crypto trading platforms to curb illegal services, adding: “The Swedish Financial Intelligence Unit assesses illegal cryptocurrency providers as an emerging threat in money laundering schemes and a key part of organized crime to maintain and expand the criminal market.” On the other hand, Swedish authorities acknowledge that licensed legal cryptocurrency trading platforms play a role in curbing money laundering activities, and these platforms have no criminal intent. Swedish authorities urge these entities to observe suspicious trading patterns of users and take necessary measures, including stopping trading and withdrawing customers. (Cointelegraph)