FinlandThe International Monetary Fund released a report that assesses Finland’s anti-money laundering and counterterrorist financing regime. It specifically examines the jurisdiction’s money laundering risks, its financial flows and its supervision of the banking and virtual assets sectors.
Finland’s Financial Supervisory Authority issued a statement concerning the definition of a management company’s customer pursuant to the jurisdiction’s Anti-Money Laundering Act.
French cement company paid Islamic State group, 6AMLD broadens access to ownership details, and more, in the weekly roundup.
STR Volumes Rise Again in Europe, Finland Notwithstanding
European FIUs recorded another numerical increase in STRs in 2022 despite the spectacular fall of reporting volumes in Finland.
The Finnish Financial Supervisory Authority decided to withdraw the registration of the Helsinki, Finland-based money remittance service provider for failing to rectify anti-money laundering and counterterrorist financing shortcomings.
The Finnish Financial Supervisory Authority imposed a €25,000 fine on the Helsinki, Finland-based money remittance service provider for failing to comply with various obligations under the regulations on preventing money laundering and terrorist financing.
| Technical | Effectiveness |
|---|---|
| Compliant : 9 | High : 1 |
| Largely Compliant : 28 | Substantial : 3 |
| Partially Compliant : 3 | Moderate : 6 |
| Non-Compliant : 0 | Low : 1 |
Finland's technical compliance was re-rated in a Oct. 23, 2023 follow-up report.
| Rank : 2/110 |
| Score : 3.06/10 |
| Rank : 3/179 |
| Score : 85/100 |
| Rank : 87/133 |
| Score : 52/100 |