National Police Board publishes assessment of risks of money laundering and terrorist financing in gambling
News item
The risk assessment is the supervisory authority's view of the threats and events to gambling activities in relation to money laundering and terrorist financing in mainland Finland. The risk assessment has identified the most probable and significant gambling-related money laundering risks and presents certain means to reduce risks.
The risk assessment helps to target supervision aimed to prevent money laundering and terrorist financing (AML/CFT) to the functions that have been found to involve the most significant risks. In supervisory activities, this type of targeting is referred to as risk-based supervision.
The risk assessment also serves as a tool for the gambling operator. For example, gambling operator can compare this risk assessment with risk as¬sessments it has prepared regarding their activities and determine whether it has considered all the risks presented in the supervisory authority’s risk assessment and how the supervisory authority has assessed risks and control measures.
The risk assessment consists of two sections, a general section and a summary. The general section presents the purpose and goal of the risk assessment and illustrates the special characteristics of gambling services provided in mainland Finland. In addition, document defines the sources and methodology used in the assessment. The summary highlights the most significant risks identified in the risk assessment.