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Anti-Money Laundering Laws and Regulations in Finland Take Center Stage

In a concerted effort to combat financial crimes, key government ministries in Finland have come together to prevent money laundering and terrorist financing.

Key Ministries Involved

Ministry of Finance: responsible for overseeing the Anti-Money Laundering Act and coordinating international instructions and regulations issued by the Financial Action Task Force (FATF) and the EU.
Ministry of the Interior: plays a crucial role in preventing money laundering and terrorist financing.
Ministry of Justice: contributes to the regulatory framework aimed at preventing money laundering and terrorist financing.
Ministry for Foreign Affairs: involved in international cooperation on anti-money laundering efforts.
Ministry of Economic Affairs and Employment: works towards identifying vulnerabilities in the system.
Ministry of Social Affairs and Health: supports the national law closely mirroring EU regulations.

The Regulatory Framework

Finland’s Anti-Money Laundering Act is built on a robust foundation of:

National legislation
European directives
International recommendations from FATF

The regulatory framework is designed to ensure effective implementation, with separate acts working in tandem to prevent money laundering and terrorist financing.

Influence of International Recommendations

International recommendations from FATF have a significant impact on both the national law and EU law, as both frameworks heavily rely on these global guidelines.

Resources for Further Information

For more information on Finland’s anti-money laundering efforts, readers can visit:

Money laundering and terrorist financing background information
Frequently asked questions
Contact details for Jaana Vehmaskoski, Director of Preventing Money Laundering and Terrorist Financing
Maarit Pihkala, Senior Ministerial Adviser