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.

Finland exhibits a robust framework for addressing corruption, with various authorities and agencies contributing to anti-corruption efforts rather than a single dedicated body. The country has implemented comprehensive legislation, including the Criminal Code that criminalizes various forms of bribery, and mandates large companies to report on their anti-corruption policies, reflecting a commitment to transparency and ethical business practices.

Finland's economy is characterized by a modern, stable framework supported by a highly educated and skilled labor force, particularly in sectors like information communications technology and renewable energy. Despite facing economic challenges such as high inflation and a recession in 2023-2024, the government is implementing structural reforms aimed at boosting growth, enhancing public finances, and promoting investment in education and green technologies. The country remains open to foreign direct investment, benefiting from EU membership and a transparent regulatory environment, while also addressing demographic challenges through initiatives like the Talent Boost program to attract skilled labor.