Mutual Evaluation of Finland: 9th Follow-up report

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Mutual Evaluation of Finland - 9th Follow-up report

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Finland was placed in the regular follow-up process as a result of partially compliant ratings for certain core and key Recommendations in its Mutual Evaluation of October 2007.  The June 2013 report contains a detailed description and analysis of the actions taken by Finland in respect of the core and key Recommendations rated partially compliant at the time of the mutual evaluation, as well as a description and analysis of the progress made with regard to the other Recommendations rated partially compliant or non-compliant in its mutual evaluation report.

Since the adoption of its mutual evaluation report in 2007, Finland focused its attention on:

  • strengthening its AML/CFT legislative framework, with the adoption of amendments to the Criminal Code;
  • issuing Legislation for freezing of terrorist funds to complement the relevant EU basic framework;
  • amending its preventive AML/CFT legislation;
  • issuing a related set of implementing preventive AML/CFT measures;
  • introducing changes to its supervisory framework; and
  • improving its domestic AML/CFT coordination and cooperation between competent authorities.

In June 2013, the FATF recognised that Finland had made significant progress in addressing the deficiencies identified in the 2007 mutual evaluation report and could be removed from the regular follow-up process. The decision by the FATF to remove a country from the regular follow-up process is based on procedures agreed in October 2009.