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.
IMF published a report on anti-money laundering in Nordic and Baltic countries – supervision could be enhanced by increasing cross-border information exchange
At the request of the Nordic and Baltic countries, the International Monetary Fund (IMF) has analysed threats and vulnerabilities stemming from money laundering and terrorist financing in their region.
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.