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Financial Supervisory Authority and Financial Intelligence Unit sign memorandum of understanding

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The Financial Supervisory Authority (FIN-FSA) and the Financial Intelligence Unit (FIU) signed a memorandum of understanding on 26 February 2020.

“The memorandum of understanding will enhance exchange of information on anti-money laundering,” says Samu Kurri, the FIN-FSA’s Head of Department, Digitalisation and Analysis. In the future, requests for information can be made through the FIU’s own online application. At the same time, the FIN-FSA will be able to utilise the supervisor function of the money laundering reporting application.

As of spring 2019, the Act on the Financial Supervision Authority and the Act on the Financial Intelligence Unit have enabled the exchange of information between the FIN-FSA and the FIU. The FIN-FSA and the FIU considered it necessary, however, to prepare a memorandum of understanding specifying the content and methods of the exchange of information.

The abuse of the financial sector for money laundering and terrorist financing and the deficiencies in the supervision of money laundering and terrorist financing have been strongly highlighted over the last couple of years. A strategic goal of the FIN-FSA is that Finland has a good reputation in preventing money laundering.

For further information, please contact

Pekka Vasara, Head of Division, Anti-Money Laundering, tel. +358 9 183 5513 or pekka.vasara(at)fiva.fi

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Regulator Information

Abbreviation: FIN-FSA
Jurisdiction: Finland

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