Finanssivalvonta

Nordic-Baltic countries engage the IMF to conduct an analysis of cross-border money laundering and terrorist financing risks in the region

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The eight countries of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) have taken the initiative to engage the IMF to conduct a regional analysis of money laundering (ML) and terrorist financing (TF) threats and vulnerabilities.

In the context of a voluntary effort, the Nordic-Baltic countries have asked the IMF to analyse the most pertinent ML/TF threats and vulnerabilities in the region given the interconnectedness of the financial systems and particularly the many cross-border banking networks and relationships in the Nordic-Baltic region.

Bringing in the perspective of the IMF, which has a reputation as a trusted and independent advisor on anti-money laundering and combating the financing of terrorism (AML/CFT), provides an opportunity to analyse risks to the region as a whole, analyse relevant progress to mitigate those risks, and make recommendations for the future.

The IMF will begin its work in January 2021 and is expected to report its findings in mid-2022. The eight countries that will be included in the analysis are: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden.

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Contacts

For further information, please contact the following persons: at the Financial Supervisory Authority, Pekka Vasara, Head of Unit, Anti Money Laundering, and at the Ministry of Finance of Finland, Juho Keinänen, Senior Specialist, Financial Markets Department.

Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, weekdays 9.00-16.00.

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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.

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