Finland Times

Currently, only the Financial Supervisory Authority has the right to levy fines, but, in the future, it could be extended to at least the Regional State Administrative Agency for Southern Finland and the National Police Board.

The interior ministry is including an amendment to the government’s draft law on preventing money laundering and financing terrorism.

It has been proposed that a national risk assessment of money laundering and the financing of terrorism should be immediately drawn up.

Under the proposal, regulators and declarants should continue to give their own risk assessments.

The requirement for a national risk assessment is included in the directive on money laundering, according to which EU member states need to continue to at least inform the European Commission of the results of the assessments.