Background
Money laundering refers to the process of making property obtained through criminal activity seem legitimate.
Preventive measures
Prevention work is undertaken by innumerable public authorities, and also by organisations with a reporting requirement under the anti-money laundering legislation. Finland is engaged in close international cooperation in these matters.
What, how, why...?
We have compiled a list of questions and answers concerning the prevention of money laundering and terrorist financing.
FIN-FSA published AML supervision strategy - effectiveness of sanctions monitoring to be improved by legislative reform
The Financial Supervisory Authority (FIN-FSA) has published a supervision strategy for anti-money laundering. The objective of the strategy is to reduce the risk of money laundering, terrorist financing and breaches of financial sanctions in the operation of supervised entities. In March, the Parliament adopted a partial reform of the Anti-Money Laundering Act, which provides the FIN-FSA with the authority to supervise compliance with sanctions in the financial sector more effectively than before.
The National Police Board has published instructions on preventing money laundering for the agents of Veikkaus Oy
National Police Board’s Gambling Administration has published on its website instructions for preventing money laundering and terrorist financing for Veikkaus Oy's agents who supply its games.
Finland continues to strengthen its framework for preventing money laundering and terrorist financing – remains in enhanced follow-up process
According to an assessment by the Financial Action Task Force (FATF), Finland has taken a number of actions to strengthen its framework for preventing money laundering and terrorist financing.
Renewed Bank and Payment Accounts Control System helps to combat crime and enables broader cooperation between authorities
The combat against money laundering and financing of terrorism becomes more efficient with the renewed legislation on the Bank and Payment Accounts Control System on 15 September 2022. At the same time, the scope of use of the legal act is extended. With the renewal, the Bank and Payment Accounts Control System can in the future be used by even more authorities, and more efficiently than before.