Åland Islands Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
Low Concern
US State ML Assessment
Low Concern
Criminal Markets (GI Index)
Low Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.
Anti Money Laundering
The Åland Islands is an autonomous region of Finland. Information for Finland may be included below:
FATF Status
Finland is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Finland was undertaken in 2023. According to that Evaluation, Finland was deemed Compliant for 9 and Largely Compliant for 28 of the FATF 40 Recommendations. It remains Highly Effective for 1 and Substantially Effective for 3 of the Effectiveness & Technical Compliance ratings.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 88 |
| World Bank: Control of Corruption Percentile Rank | 100 |
The Åland Islands, an autonomous region of Finland, operates under a legal framework that criminalizes various forms of corruption, including bribery and embezzlement, with penalties ranging from fines to imprisonment. While Finland lacks a dedicated anti-corruption authority, multiple agencies, including the Ministry of Justice and the National Bureau of Investigation, collaborate to combat corruption, supported by EU directives that mandate large companies to report on their anti-corruption measures. Despite a generally transparent regulatory environment, isolated incidents of corruption can occur, particularly at the local level, where business interests may improperly align with local political figures.
Economy
Åland's economy is primarily driven by shipping, trade, and tourism, with shipping accounting for approximately 40% of economic activity. The region also benefits from agriculture, fishing, and a growing technology sector, while its strategic location and stable governance contribute to its status as one of the wealthiest regions in Finland.
The investment climate in Åland is shaped by its autonomous status and favorable tax regulations, particularly benefiting from tax-free sales on ferries. However, restrictions on real estate ownership and certain services for non-residents may hinder foreign investment. Despite these challenges, Åland's strategic location and stable governance make it an appealing option for potential investors.
Buy Full Åland Islands Report
$125 one time payment
- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
