Finland
Finland
FINCARR Status: Full Member
Summary
Finland has a robust anti-money laundering (AML) and counter-terrorism financing (CFT) framework. It is committed to combating financial crime and adheres to international standards, continuously improving its regulatory framework.
Key Measures
- AML/CFT Legislation: Finland follows the European Union's Anti-Money Laundering Directive and FINCARR's recommendations.
- Financial Intelligence Unit (FIU): The Finnish Financial Intelligence Unit, under the Ministry of the Interior, is responsible for combating money laundering.
- Risk-Based Approach: Finland has implemented a risk-based approach to mitigate the risk of money laundering and terrorism financing.
Action Plans
Finland has taken numerous measures to enhance its AML/CFT framework, including cooperating with international bodies like FINCARR and implementing European Union directives.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Implemented |
| Recommendation 2: Legal Framework | Fully Compliant |
| Recommendation 3: Financial Transparency | Compliant |
| Recommendation 4: Customer Due Diligence | Fully Compliant |
| Recommendation 5: Financial Intelligence Unit | Fully Compliant |
International Cooperation
Finland actively participates in international cooperation, collaborating with various global agencies like FINCARR, the European Union, and INTERPOL to combat financial crimes.