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 a comprehensive legal framework that includes various bribery offenses outlined in the criminal code, 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. Despite isolated incidents of corruption, Finland's regulatory environment is characterized by transparency and strong internal controls, minimizing the impact of corruption on businesses.

Finland has a modern and stable economy characterized by a high standard of living and a well-developed digital infrastructure. In 2023, the economy faced challenges due to an aging population and a shrinking workforce, which prompted the government to implement structural reforms aimed at boosting growth and attracting international talent through the Talent Boost program. Despite recent economic slowdowns influenced by external factors such as the war in Ukraine, Finland's GDP is projected to recover, with a growth forecast of 1.7 percent in 2025.

Finland maintains an open investment climate, welcoming foreign direct investment (FDI) and offering various incentives to both domestic and foreign companies. The government promotes trade and investment through organizations like Business Finland, which assists foreign investors with business setup and provides funding for research and development. However, foreign investments are subject to monitoring, particularly in sectors deemed critical for national security, ensuring that acquisitions do not jeopardize public order or national defense.