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International Monetary Fund

/CFT legislation is widened in scope to capture trust and company service providers as obliged parties. Finland’s limited definition of the financing of terrorism (see SRIIy) should be expanded to include the reporting of transactions not directly linked to a terrorist act. Finland should explicitly clarify that both transactions related to tax matters and any attempted transactions that otherwise meet the suspicious transaction reporting criteria should be reported. It is strongly recommended that in the new AML/CFT legislation Finland implement supervision and inspection

International Monetary Fund
This report reviews observance of Standards and Codes for the Financial Action Task Force (FATF) 40+9 Recommendations and the Anti-money Laundering and Combating the Financing of Terrorism (AML/CFT) measures in place in Finland. The report describes the level of compliance with the FATF 40+9 Recommendations, and contains recommendations on how the AML/CFT system could be strengthened. The report reveals that Finland has a good legal structure to combat money laundering and terrorist financing.