Current provisions, regulations and guidelines

This page provides a list of regulation on the prevention of money laundering and terrorist financing.  In Finland, responsibility for the development of AML/CFT legislation lies with the Ministry of Finance.

Directives and EU-level regulations

The Funds Transfer Regulation obliges providers to notify the FIN-FSA of shortcomings identified by them in information accompanying funds transfers. The notifications are to be sent to the FIN-FSA by email at maksuntiedot(at)fiva.fi. Use this form in the notification (in Finnish).

The ESA guidelines contain more detailed instructions on how payment service providers should act in order to fulfil the requirements of Regulation 2015/847. The ESA guidelines are available on the ESA website.

The ESA guideline was implemented nationally by FIN-FSA regulations and guidelines 5/2018.

Finland has used the possibility provided by the fourth Anti-Money Laundering Directive to require foreign payment service providers and issuers of electronic money providing services to Finland, to appoint a central contact point (Chapter 3, section 14 of the AML Act).

Laws and regulation

Regulations and guidelines

Regulations and guidelines 7/2021 Money laundering and terrorist financing risk factors

Regulations and guidelines 14/2021 Internal Governance (available only in Finnish and Swedish.)

The regulations and guidelines of Standard 2.4  were prepared in accordance with the Anti-Money Laundering Act that entered into force on 1 August 2008 and provisions issued under the Act. Please note that the regulations and guidelines have not been completely updated, as they do not take account of the amendments to the Anti-Money Laundering Act that entered into force on 3 July 2017 (444/2017), or other provisions that were repealed or issued in connection with the overall reform of the Act, or the Act on amending the AML Act (406/2018) and other related acts that entered into force on 5 June 2018 and 1 May 2019. 

Draft for regulations and guidelines concerning the prevention of money laundering and terrorist financing

The Financial Supervisory Authority (FIN-FSA) is inviting comments on its regulations and guidelines concerning the prevention of money laundering and terrorist financing (AML/CFT).

The objective of the regulations and guidelines is to provide entities supervised by the FIN-FSA with interpretations and recommendations on the application of AML/CFT regulation. The regulations and guidelines seek to guide supervised entities in taking proportionate and risk-based actions against money laundering and terrorist financing in areas where legislation does not provide adequate guidance. A further intention is to harmonise and improve the effectiveness of application of regulation concerning the prevention of money laundering and terrorist financing.

The regulations and guidelines subject to the consultation will repeal the FIN-FSA Standard 2.4 Customer due diligence - Prevention of money laundering, terrorist financing and market abuse, the FIN-FSA statement 2/2016 Customer due diligence and banks’ procedure, and the FIN-FSA statement 27/2020 Simplified customer due diligence procedures for private road maintenance associations and public water area maintenance associations.

Commentators are requested to note that, in preparing the regulations and guidelines, the objective was to integrate the amendments proposed in Government bill 236/2021 concerning the amendment of the Act on Preventing Money Laundering and Terrorist Financing and sections 3 and 20 b of the Act on the Financial Supervisory Authority. New provisions proposed in the Government bill as well as textual changes have been highlighted in the text to clarify where a proposed provision is concerned, instead of valid legislation.

The request for consultation has been published at Lausuntopalvelu.fi (in Finnish). Comments are requested to be submitted via Lausuntopalvelu.fi at the latest on 31.3.2022.

Draft - Regulations and guidelines 1/2022

Standard 2.4

Customer due diligence – prevention of money laundering and financing of terrorism