The Financial Action Task Force published a second follow-up report to its April 2019 mutual evaluation report of Finland’s anti-money laundering and counterterrorist financing framework, highlighting that the county has taken a number of actions to improve compliance.
The Council of Europe Group of States Against Corruption published a compliance report on the Fifth Round Evaluation of Finland’s anti-corruption regime with respect to law enforcement agencies and top executive functions within the government.
California man admits laundering cryptocurrency, UAE hits 11 banks with AML fines, and more, in the midweek roundup.
Financial technology-based firms in Europe have largely failed to participate in the Black Wallet Project, a government-led consultation that may influence how anti-money laundering rules apply to them going forward, a senior official told ACAMS moneylaundering.com.
Finland’s Financial Supervisory Authority fined S-Bank Ltd €980,000 for lacking a comprehensive risk-based approach as required by the Act on Detecting and Preventing Money Laundering and Terrorist Financing.
|Compliant : 9||High : 1|
|Largely Compliant : 23||Substantial : 3|
|Partially Compliant : 8||Moderate : 6|
|Non-Compliant : 0||Low : 1|
Finland's technical compliance was re-rated in a Oct. 5, 2021 follow-up report.
|Rank : 139/141|
|Score : 2.97/10|
|Rank : 3/179|
|Score : 85/100|
|Rank : 87/133|
|Score : 52/100|