Finland
Regulatory framework
Introduction
Finland, following in the footsteps of its European counterparts, owes its regulatory framework on money laundering prevention to the work carried out by European Directives in this area. Its main rule in this area is Laki rahanpesun ja terrorismin rahoittamisen estämisestä ; and to this can be added the various decrees that help implement the rule.
Financial Intelligence Unit
Finland also includes within its institutional framework the figure of the Financial Intelligence Unit. The Law 445/2017 establishes the general provisions about the Financial Intelligence Unit. It will be the National Bureau of Investigation — Keskusrikospoliisi — that includes within its bodies a Financial Intelligence Unit
Links of interest:
Obligated subjects
The legal regime of Finland in the prevention of money laundering and terrorist financing designates certain individuals and entities as obliged subjects depending on the economic activity they carry out.
Among these subjects, credit entities and banks, real estate and rental agencies, as well as those engaged in the trade of jewellery, metals and precious stones, stand out.
Links of interest:
> PEPs
Introduction
The regulatory framework for politically exposed persons in Finland is provided by the Finnish Law, Laki rahanpesun ja terrorismin rahoittamisen estämisestä.
In addition, consideration must be given to the list issued by the European Commission pursuant to Article 20 bis of the Directive 2015/849. This must also be supplemented with the Decree Valtioneuvoston asetus rahanpesun ja terrorismin rahoittamisen estämisestä annetussa laissa tarkoitetuista merkittävistä julkisista tehtävistä
Links of interest:
Definition of PEP
The Finnish legislation states that the following will be considered politically exposed persons:
- The President of the Republic, the Prime Minister and Ministers, as well as the roles of the Secretary of State.
- Members of the Government of Åland.
- Members of the Finnish Parliament and of the Åland region.
- Members of the governing body of a political party.
- Justices of the Supreme Court, of the Constitutional Court or another corresponding judicial body.
- National Audit Office of Finland.
- Member of the board of directors of central banks.
- Ambassadors.
- Military personnel with a general rank or higher.
- Members of the administrative bodies of state-owned companies.
- Director, deputy director or member of the board of directors of an international organisation.
Links of interest:
Duration of PEPs
When politically exposed persons have ceased to perform their duties, the obliged entities will continue to apply the measures provided for this type of client for a minimum period of one year.
Links of interest:
Included lists
PEPs
- Website of the Parliament of the Republic of Finland
- Web of the Government of the Republic of Finland
- Website of the President of the Republic of Finland
- Ahvenanmaa Government Website
- Website of the Parliament of the Ahvenanmaa region
- Website of the Armed Forces of the Republic of Finland
- Website of the Supreme Administrative Court of the Republic of Finland
- Website of the Supreme Court of the Republic of Finland
- Website of the Political Party Sosialidemokraatit
- Keskusta Political Party Website
- Kokoomus Political Party Website
- Website of the Political Party Suomen Ruotsalainen Kansanpuolue
- Website of the Political Party Kristillisdemokraatit
- Website of the Political Party Vihreät De Gröna
- Website of the Vasemmisto Political Party
- Perussuomalaiset Political Party Website
- Web of the Liberaalipuolue Political Party
- Website of the Political Party Piraattipuolue
- Website of the Political Party Eläinoikeuspuolue
- Website of the Political Party Feministinen Puolue
- Kansalaisliitto Political Party Website
- Korjausliike Political Party Website
- Web of the Political Party Skepuolue
- Website of the Political Party Liike Nyt
- Web of the Political Party Avoin Puolue
- Website of the Political Party Suomen Kommunistinen Puolue
- Kristallipuolue Political Party Web
- Website of the Valta kuuluu kansalle Political Party
- Website of the Political Party Vapauden Liitto
- Website of the Political Party Sinimusta Liike
- Website of the Labour Court of the Republic of Finland
- Website of the Court of Auditors of the Republic of Finland
- Website of the Central Bank of the Republic of Finland
- Website of the Ministry of Foreign Affairs of the Republic of Finland
- Website of the Competition Tribunal of the Republic of Finland