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The following are essential for preventing money laundering and terrorist financing: legislation, adherence, implementation and monitoring of laws across actors, economic sanctions and decisions on freezing of assets, international cooperation

Financial sanctions and freezing of funds International financial sanctions International sanctions are restrictive measures limiting or suspending economic or commercial cooperation and, for example, transport and communications links or diplomat...

Terrorist financing Terrorist financing means the provision or collection of funds, directly or indirectly, to commit a terrorist offence. Financing or attempting to finance a terrorist group or an individual terrorist is punishable. Financing of ...

Obliged entities Companies and professionals who can identify risks related to money laundering or terrorist financing or be expected to be exploited for these purposes are key to the fight against money laundering and terrorist financing. Such in...

FATF (Financial Action Task Force on Money Laundering) is an inter-governmental body operating under the Organisation for Economic Co-operation and Development OECD. FATF cooperates internationally to prevent money laundering and the financing of terrorism and weapons of mass destruction.

The regulations that seek to prevent money laundering and terrorist financing consist of national legislation and European and international regulations.

Frequently asked questions – Prevention of money laundering and terrorist financing We have compiled a list of questions and answers concerning the prevention of money laundering and terrorist financing. If you can’t find the answer you are lookin...

19.12.2024 | On 19 December 2024, the Government adopted a strategy and an action plan for tackling the shadow economy and economic crime for 2024–2027. During the new programming period, operating conditions of the authorities will be enhanced and their cooperation intensified.

23.7.2021 | The EU economic and financial affairs ministers will hold an informal video conference on Monday 26 July. Minister of Finance Annika Saarikko will represent Finland at the meeting.

9.9.2021 | The Government supports a new EU-level supervisory system to fight money laundering and terrorist financing.

19.12.2024 | Action Plan for Tackling the Grey Economy and Economic Crime 2024–2027 Action Plan 2024–2027 On 17 May 2024, the Ministry of Economic Affairs and Employment issued a deci- sion to set up a preparatory group for updating the Strategy and Action Pla...

7.10.2021 | National implementation of the EU Directive on access to financial information moves a step closer. On 7 October, the Government submitted to Parliament a proposal to amend the Act on the Bank and Payment Accounts Control System and the Act on the Financial Intelligence Unit.

29.4.2021 | Obliged entities, which are entities with reporting and other obligations, do not always examine the background to customers' transactions or the source of funds adequately enough for the purpose of preventing money laundering. Finland’s national risk assessment of money laundering and terrorist financing finds that all sectors experience challenges in identifying signs of terrorist financing.

8.2.2024 | Unofficial international money remittances involve a very high risk of money laundering and terrorist financing. In addition, public authorities responsible for anti-money laundering and countering the financing of terrorism and other key actors consider the risk to be high for virtual currency providers, banks and payment service providers.

19.12.2024 | GOVERNMENT RESOLUTION ON A STRATEGY FOR TACKLING THE GREY ECONOMY AND ECONOMIC CRIME FOR 2024–2027 Executive summary In May 2024, the Ministry of Economic Affairs and Employment set up a preparatory group to update the Strategy and Action Plan for...

21.5.2024 | 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.

22.4.2022 | The Financial Action Task force (FATF) held a ministerial meeting in Washington on Thursday, 21 April. Finland was represented by Permanent Under-Secretary Leena Mörttinen.

11.11.2024 | Cashing Out Joint report by the Nordic countries on cross-border money laundering via cash transportation Foreword As the global economy is getting more and more digitized, criminals are still using cash to carry out their criminal activity, as ca...