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.
National NPO sector assessment highlights risk-based approach
The first national risk assessment of money laundering and terrorist financing for non-profit organisations (NPOs) has been completed. In addition to the assessment of risks, it is aimed at increasing awareness of the Finnish NPO sector among obliged entities specified in the Act on Preventing Money Laundering and Terrorist Financing, supervisory authorities as well as operators in the sector itself.
Proposal to improve authorities’ electronic access to information on account transactions sent out for comments
The Ministry of the Interior is requesting comments on a draft proposal for amending the Act on the Bank and Payment Account Monitoring System. The consultation round ends on 21 November 2024.
Government proposal
Legislative amendments to enhance exchange of information in prevention of money laundering and terrorist financing
Public authorities will be better able to exchange information in their efforts to prevent money laundering and terrorist financing. The Government is proposing legislative amendments that will improve access to information and strengthen national security.
Good results achieved in the combat against grey economy and economic crime in 2020–2023
In 2020–2023, more than 50 projects tackling the shadow economy and economic crime were carried out in Finland. They succeeded in preventing abuses, promoting healthy competition between companies and supporting a fair labour market by improving the transparency and openness of business activities, for example.