Finland's progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Finland

Topic

Mutual Evaluations

Follow-Up Report Finland-2022

Filename: Follow-Up-Report-Finland-2022.docx.pdf
Size: 4 MB
Format: application/pdf

Download

4 October 2022 - Since the 2019 assessment of Finland’s measures to tackle money laundering and terrorist financing, the country has taken a number of actions to strengthen its framework.

Consequently, to reflect Finland’s progress, the FATF has re-rated the country on Recommendation 24 - Transparency and beneficial ownership of legal persons - originally rated Partially Compliant, to Largely Compliant.

Finland has 9 Recommendations rated C, 24 rated LC and 7 Recommendations rated PC.

Finland remains on enhanced follow-up and will report back to the Plenary on the remaining deficiencies in October 2023.

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

C = compliant | LC = largely compliant | PC = partially compliant | NC = non-compliant

Earlier reports

5 Oct 2021

Finland's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses Finland's progress in addressing the technical compliance deficiencies identified in its 2019 Mutual Evaluation.
16 Apr 2019

Finland's measures to combat money laundering and terrorist financing Finland has a sound framework to combat money laundering and terrorist financing which is delivering some good results, but there are some areas to improve the effectiveness of the country’s framework, especially with regard to the AML/CFT supervision of financial and non-financial institutions.
25 Jun 2013

Mutual Evaluation of Finland: 9th Follow-up report This follow-up report provides an overview of the main changes made to the AML/CFT system in Finland since the adoption of its mutual evaluation report in October 2007. In June 2013, the FATF recognised that Finland had made significant progress in addressing deficiencies identified in its mutual evaluation report and decided that the country should be removed from the regular follow-up process.
12 Oct 2007

Mutual Evaluation of Finland The report of the mutual evaluation of Finland was adopted by the FATF plenary in June 2007. This report provides a summary of the anti-money laundering AML and combating the financing of terrorism CFT measures in place in Finland at April 2007 the date of the on-site visit. The report describes and analyses those measures and provides recommendations on how certain aspects of the system could be strengthened. It also sets out Finland's levels of compliance with the FATF 40+9 Recommandations.

Related materials

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Read more Consolitated assessment ratings

The 2022 and 2013 Methodologies for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

These documents are guides intended for use by assessors who are tasked with conducting a mutual evaluation. They provide a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: August 2024