Money laundering is an activity that tries to make money obtained through criminal activity seem legitimate.
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.
Organisations participating in countering money laundering and terrorism.
Money laundering supervision register improves oversight
The Regional State Administrative Agency for Southern Finland supervises compliance with the Act on Preventing Money Laundering and Terrorist Financing (444/2017) on a national basis. One of the Regional State Administrative Agency’s supervisory tools to step up supervision of the Act on Preventing Money Laundering and Terrorist Financing (Money Laundering Act) is the money laundering supervision register. This streamlines contact between the Regional State Administrative Agency and the supervised entities on guidance and the reporting and collection of information.
Consultation begins on national implementation of EU directive on access to financial information
The Ministry of the Interior has prepared legislative amendments to implement the EU directive on access to financial information at national level. The directive contains rules to facilitate the use of information held in bank account registries by the authorities for the purpose of preventing, detecting, investigating or prosecuting certain offences.
Nordic-Baltic countries engage the IMF to conduct an analysis of cross-border money laundering and terrorist financing risks in the region
The eight countries of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) have taken the initiative to engage the IMF to conduct a regional analysis of money laundering (ML) and terrorist financing (TF) threats and vulnerabilities.
Working together to combat money laundering and terrorist financing
We can fight money laundering and terrorist financing by creating tools for detecting and preventing criminal activity. Increasing awareness of different types of crime is key in identifying criminal activity.