Do the right thing
Money laundering and terrorist financing can be prevented when authorities supervise the operators and situations that the legislation concerns. Under the Anti-Money Laundering Act, obliged entities include many entrepreneurs that must bring their operations under regulatory control and follow the procedures laid down in legislation. You too might be subject to an obligation to act on your own initiative if you are a customer of an obliged entity, a company or an ordinary tourist.
If you are an obliged entity
Follow the obligations laid down in the Anti-Money Laundering Act, such as the creation of a risk assessment and the requirements on customer due diligence
Immediately report any suspicious business activity or suspected terrorist financing to the Financial Intelligence Unit at ilmoitus.rahanpesu.fi
Report any shortcomings and inconsistencies in the beneficiary information in the Trade Register to the Finnish Patent and Registration Office. The same obligation applies to the supervisors of the Anti-Money Laundering Act.
If you are a customer of an obliged entity, give the information they need for customer due diligence. This way, the obliged entity can ensure it knows the person it is interacting with.
If you enter or exit the EU area carrying EUR 10,000 or more in cash, report this to the Customs.
Most companies and entities must report their beneficial owners and keep this information up to date. In most cases, the beneficial owners of a company are its owners. File the report in the Trade Register maintained by the Finnish Patent and Registration Office.
Who is subject to the reporting obligation
In perspectives related to combating money laundering, such companies and professionals are in a key role who as a part of their business operations can identify risks related to money laundering and terrorist financing or who can be suspected to be used for these purposes.
When you carry out a transaction with such an entity, you may have to prove your identity. This way, the obliged entity can ensure it knows the person it is interacting with.
If you arrive in the EU territory or you leave the EU territory and have cash worth 10 000 euros or more with you, declare the money to Customs.
Most companies must file the details on their actual beneficial owners and keep the details up to date.
How to report
If you are a member of an obliged entity, you must report any suspicious transaction or suspected terrorist financing to the Financial Intelligence Unit without delay.