Anti-money laundering registration
The Finnish Anti-Money Laundering Act lays down the obligations and safeguards that businesses, organisations and other economic operators must observe in order to help to prevent and expose money laundering and terrorist financing.
Regional State Administrative Agencies are the competent enforcement authority in respect of businesses and other economic operators that, due to the nature of their business, are in a position to expose money laundering and terrorist financing or likely to become a target for money laundering and terrorist financing.
Regional State Administrative Agencies keep a register of these kinds of businesses and operators for anti-money laundering purposes. The information is in the public domain, and anyone can access the register without creating an account. All the operators that are our responsibility must have their details included in one of our registers.
Information about the anti-money laundering register
Regional State Administrative Agencies keep a register of businesses and operators that are subject to the Finnish Anti-Money Laundering Act. The information is in the public domain, and anyone can access the register without creating an account. A link to the register is provided at the bottom of this page.
All the operators that are our responsibility must have their details included in one of our registers. We keep separate registers of, for example, licensed pawnbrokers. As long as an operator’s details are included in one of our registers, there is no need to register specifically for anti-money laundering purposes. Operators that do not need to register separately include pawnbrokers, debt collection agencies, consumer credit providers, estate agents and letting agents.
See our list of operators that fall within the enforcement authority of Regional State Administrative Agencies.
You can take our test to see whether you need to register. A link to the test is provided at the bottom of this page.
We have prepared an online form that you can use to have your details entered into our anti-money laundering register. A link to the form is provided at the bottom of this page.
Follow these steps:
- Open Regional State Administrative Agencies’ customer service portal.
- Click on ‘Anti-money laundering registration’.
- Log into the portal using multi-factor authentication. You can use a certificate card, a mobile certificate or your personal online banking details. Do not use your business banking details.
- Start by reading the terms and conditions. Confirm that you accept the terms and conditions and then click ‘Start’.
- Basic information about your business and your contact details: Check your contact information and make any necessary changes or additions. Click the green ‘Save’ button at the bottom of the page. Do NOT click the ‘Close’ button unless you want to discard your application! Make sure to fill in all the fields that are marked with an asterisk.
- Regardless of whether you are self-employed or represent a business or an organisation, start by entering your or your organisation’s business ID and then click ‘Find’. If you represent a business or an organisation, you must have authorisation to do so. To indicate that you have authorisation, tick the ‘I am authorised to represent this business/organisation’ box. If your authorisation to represent the business or organisation in question is not evident from the Trade Register, you must prove your authorisation by emailing a power of attorney to the registry of the Regional State Administrative Agency for Southern Finland at [email protected] If you are self-employed, remember to also tick the ‘I am self-employed’ box.
- Click ‘Proceed’ to start filling in your application.
Applications usually take two weeks to process, but delays are possible if a lot of applications are submitted at the same time or if further enquiries are needed.
Having your information entered into the anti-money laundering register is subject to a fee of EUR 200 if you have used our online form. The registration fee for providers of business services and foreign exchange is EUR 355 if you have used our online form. The fees are based on government decrees.
You will be billed separately for the fee. Fees are enforceable without a court order.
Reporting suspicious transactions
All operators that fall within Regional State Administrative Agencies’ enforcement authority have a duty to know their customers and regularly review the risks involved in their customer relationships. This includes looking out for any unusual transactions and investigating the origin of funds involved in such transactions.
If you spot an unusual transaction, it is your responsibility to delve deeper into its background and purpose. A transaction can be unusual, for example, if it does not fit the customer’s profile or is different from the customer’s previous transactions.
To test whether a transaction should be considered unusual, you can compare it against
- transactions that are typical of the industry,
- transactions that are typical of other similar customers, or
- typical transactions involving other similar products or services.
If your conclusion is that there is something suspicious about the transaction, report it immediately to the National Bureau of Investigation’s Financial Intelligence Unit. It is always better to report a suspicious transaction than not to report it. It is not your responsibility to determine whether or not a crime has been committed.
Always report a transaction that
- still appears suspicious after you have queried about it from the customer,
- you decide to refuse based on its unusual or suspicious nature, or
- you find suspicious after it has already taken place.
Do not tell the customer about your report. Keep the evidence that you collected for your report for a period of five years and store it separate from the customer’s other documents.
Where should I send my report?
The body responsible for handling anti-money laundering reports in Finland is the National Bureau of Investigation’s Financial Intelligence Unit. The National Bureau of Investigation’s Financial Intelligence Unit deals with all suspected cases of money laundering and terrorist financing and produces information to combat the phenomena.
An online reporting tool is available on the Financial Intelligence Unit’s website. You need to create an account before you can submit a report. You can report suspicious transactions on behalf of your organisation or in a private capacity. A link to the reporting tool is provided at the bottom of this page.