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.
act is required for prosecution of terrorist financing. There have been few convictions for money laundering and no prosecutions for terrorist financing. While the Penal Code provides the ability to restrain, confiscate and recover the proceeds of crime in most situations, Finland has not established a complete mechanism for freezing terrorist assets. Overall, the Finnish FIU is effective and is the focal point for FinnishAML/CFT efforts. Finland has designated competent authorities to investigate and prosecute money laundering and terrorist financing offences