Finland: Government Proposes Act Strengthening Measures to Tackle Money Laundering and Terrorist Financing

On October 4, 2018, the Finnish government presented to the parliament a proposal to introduce a new Act concerning the Supervision of Banking and Payment Accounts (förslag till lag om ett övervakningssystem för  bank- och betalkonton och till vissa lagar som har samband med den).

The proposal will amend the Law on the Prevention of Money Laundering and Terrorist Financing, the Act on Financial Supervision, the Act on the Financial Supervision Authority Fee and the Act on the Financial Intelligence Unit. The main amendments involve the implementation of the 5th Anti-Money Laundering Directive (5th AMLD).

To continue reading please log in or request a demo to speak to a member of the team.

Request a Trial

Click here to request a trial