FIN-FSA’s Annual Report 2025: Effective supervision in a changing world − unstable conditions and challenges of digitalisation highlighted the importance of risk management
In 2025, the operating environment of the Finnish financial sector was characterised by rapid changes in international geopolitics and trade policy as well as weak domestic economic development. Strong capital adequacy shielded the financial sector, but uncertainty remained elevated, however, particularly due to geopolitical risks. Ensuring operational security and resilience will remain a priority in 2026, with stability and trust still being a statutory core task of the Financial Supervisory Authority (FIN-FSA).
Cybersecurity and fraud prevention have become increasingly important
The development of the digital operating environment and the widespread use of artificial intelligence (AI) have brought new dimensions to risk management, and the role of cybersecurity and fraud prevention has become increasingly important.
“Although extreme chains of events are unlikely, ensuring the operational security and resilience of society requires that the financial sector is prepared and functions even in exceptional situations,” writes Tero Kurenmaa in his Director General’s review.
During 2025, greater attention was paid to cybersecurity and operational risks as the number of hybrid and cyber attacks increased. The financial sector has invested in strengthening resilience in order to minimise the impact of potential attacks and disruptions.
The responsibility of banks and other actors in preventing fraud was also emphasised: protections and opportunities for restrictions set by customers themselves are being built into services in order to impede the activities of fraudsters.
“Financial sector entities have done a lot of good work reminding people to be vigilant and teaching them to recognise scams, and this work is of prime importance. As scams have increased and evolved, including through AI, it is also essential that banks continue to do their part to make fraud even more difficult,” says Kurenmaa.
In his Director General’s review, Kurenmaa expresses a view on upcoming changes: the planned European savings and investment union will also affect the Finnish capital sector and its supervision. In the future, the supervisor’s supervision of risk management must also consider the impact of increasing equity weight in pension insurance.
The Annual Report discusses, among other things, the state of the financial sector, changing supervision, sustainability aspects, promoting cybersecurity and preventing fraud. In addition, the report brings together the key outputs of 2025 from blogs, releases and online news, and highlights themes of current interest in supervision. The Annual Report is published as a website.
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FIN-FSA Communications, tel. +358 9 183 5030, Mon-Fri 9.00–16.00.