The French company “Louis Vuitton” has been fined five million kronor in Sweden for violating the Anti-Money Laundering Act. A customer repeatedly paid large sums in cash at a store in Stockholm, which is against the rules. The regulations require companies to take special measures for transactions exceeding 5,000 euros, including identifying the customer and the origin of the money. The maximum penalty under the Anti-Money Laundering Act is 11 million kronor.
Louis Vuitton fined in Sweden for cash payments.
