The Financial Action Task Force (FATF) has published its third follow-up AML/CFT assessment report for Finland. Highlights from this report are shared below.
Finland has adopted several measures to improve its AML/CFT framework since its last assessment in 2019. As such, the FATF has re-rated Finland’s compliance with one of its 40 recommendations – the one on transparency and beneficial ownership of legal persons. Note that the country’s original rating for this recommendation was “partially compliant”, which has now been upgraded to “largely compliant”.
Overall, Finland is now compliant on 9 FATF recommendations, largely compliant on 24, and partially compliant on 7 recommendations. The FATF has retained the country on its enhanced follow-up list. This means that Finland will report back to the FATF on its improvements with regard to some outstanding AML/CFT deficiencies in October 2023.
Source: FATF
