The President of the Republic of Finland confirmed the Acts included in Parliament’s response to the Government Bill on the Act Amending the Act on Preventing Money Laundering and Terrorist Financing and Related Acts and ordered the laws to enter into force on 1 June 2025.
The proposal amends the Act on Preventing Money Laundering and Terrorist Financing, the Act on the Financial Intelligence Unit, the Act on the Public Disclosure and Confidentiality of Tax Information, the Act on the Financial Supervisory Authority, the Workers’ Compensation Act, the Act on Employees’ Pensions and the Act on the Financing of Unemployment Benefits.
Legislative amendments will improve access to information and strengthen national security, ensure that registered information on beneficial owners is correct, timely and secure and give the Financial Intelligence Unit the right to disclose information from the money laundering register in accordance with the Credit Institutions Directive. It will also improve the Finnish Security and Intelligence Service’s access to information for the purposes of protecting national security.
The amendments will ensure that Finland can meet its international obligations relating to the prevention of money laundering and terrorist financing.