Finanssivalvonta

Penalty payment of EUR 15,000 to Alami Services Oy for failures in compliance with AML regulation

4.6.2024 15:45:00 EEST | Finanssivalvonta | Press release

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The Financial Supervisory Authority (FIN-FSA) has imposed a penalty payment of EUR 15,000 on Alami Services Oy, a money remittance service provider, for having failed to report to the Financial Intelligence Unit individual or linked payments or remittances with a value of at least EUR 1,000. The reporting is mandatory and concerns each instance of exceeding the sum threshold of EUR 1,000.

The overall assessment concerning the amount of the penalty payment reflects the nature, extent and long duration of the non-compliance with a key obligation in anti-money laundering. In addition, the financial position of Alami Services Oy was taken into consideration in the assessment.

The failures were discovered in an inspection conducted by the FIN-FSA in 2022 intended to examine how Alami Services Oy executes its obligation to comply with the Act on the Prevention of Money Laundering and Terrorist Financing.

The penalty payment is payable to the State.

The FIN-FSA’s decision is not yet legally binding. Alami Services Oy has the right to appeal against the decision adopted on 3 June 2024 to the Helsinki Administrative Court within 30 days of receipt of the decision.

For further information, please contact

Janne Häyrynen, Head of Unit, Legal and Pekka Vasara, Head of Division, Anti Money Laundering. Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 50 385 5030 (weekdays 9.00–16.00).

Appendix

Decision of the Financial Supervisory Authority (pdf, in Finnish)

See also

•    Administrative sanctions
•    FIN-FSA decisions

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Finanssivalvonta, or the Financial Supervisory Authority (FIN-FSA), is the authority for supervision of Finland’s financial and insurance sectors. The entities supervised by the authority include banks, insurance and pension companies as well as other companies operating in the insurance sector, investment firms, fund management companies and the Helsinki Stock Exchange. We foster financial stability and confidence in the financial markets and enhance protection for customers, investors and the insured.

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