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.
prudential oversight and as part of risk management, internal control and code of conduct supervision. The FSA, ISA and MLCH have issued guidance and standards to assist obliged parties to implement and comply with their obligations, but limited guidance has been issued specifically on AML/CFT matters. For FSA and ISA-supervised entities, AML/CFT supervision is carried out primarily as part of prudential oversight and as part of risk management, internal control and code of conduct supervision. Both authorities could more actively conduct AML/CFT-focussedinspections and