Finland Country Summary

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.

Corruption in Finland is addressed through its criminal code, which includes various bribery offenses with penalties ranging from fines to imprisonment. Multiple authorities, including the Ministry of Justice and the National Bureau of Investigation, collaborate on anti-corruption efforts, while large companies are mandated to report on their anti-bribery policies. Finland has ratified several international anti-corruption conventions and is recognized for its commitment to combating corruption, although concerns remain regarding the enforcement of foreign bribery laws.

Finland has a modern and stable economy characterized by a well-developed digital infrastructure and a highly skilled labor force, particularly in sectors such as Information Communications Technology and renewable energy. In 2023, the economy faced challenges due to the impact of Russia's invasion of Ukraine, leading to a projected GDP decrease of 0.5 percent in 2024, although recovery is anticipated in subsequent years. The government aims to stimulate growth through structural reforms, investment in education, and a focus on green transition initiatives.

Finland maintains an open investment climate, welcoming foreign direct investment (FDI) and providing various incentives for both domestic and foreign companies. The government promotes trade and investment through organizations like Business Finland, which assists foreign investors in establishing businesses and accessing funding for research and development. However, foreign investments are subject to monitoring to protect national interests, particularly in critical sectors, and there are specific regulations governing acquisitions by non-EU entities.