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 and penalties ranging from fines to imprisonment. While there is no single authority dedicated to preventing corruption, multiple agencies, including the Ministry of Justice and the National Bureau of Investigation, collaborate on anti-corruption efforts. Finland has ratified several international anti-corruption conventions and maintains a transparent regulatory system, although concerns about foreign bribery enforcement persist.

Finland has a modern and stable economy characterized by a high standard of living and a well-developed digital infrastructure. The country has experienced moderate economic growth, recovering from a recession in 2021, but growth has slowed due to external factors such as the war in Ukraine and high inflation. Finland's economy is supported by a highly skilled labor force and significant investments in emerging technologies, while challenges such as an aging population and talent shortages remain pressing concerns.

Finland maintains an open investment climate, welcoming foreign direct investment (FDI) and offering various incentives to both domestic and foreign businesses. The government promotes trade and investment through organizations like Business Finland, which assists foreign investors in establishing operations and accessing funding for research and development. However, foreign investments are subject to monitoring to ensure they do not jeopardize national security, particularly in critical sectors.