Finland

AML/CTF legislation country profile

ECBA Questionnaire filled in for Finland

 

a) Legislation

1. Definition of money laundering in the local legal system.

Section 6 – Money laundering
(1) A person who
 
(1) receives, uses, converts, conveys, transfers or transmits property acquired  through an offence, the proceeds of crime or property replacing such property  in order to conceal or obliterate the illegal origin of such proceeds or property or  in order to assist the offender in evading the legal consequences of the offence
or
(2) conceals or obliterates the true nature, origin, location or disposition of, or rights to, property acquired through an offence, the proceeds of an offence or  property replacing such property or assists another in such concealment or obliteration, shall be sentenced for an offence of money laundering to a fine or to imprisonment for at most two years.

(2) An attempt is punishable.

Section 7 - Aggravated money laundering
(1) If in the money laundering

 (1) the property acquired through the offence has been very valuable or
 (2) the offence is committed in a particularly intentional manner,
 and the money laundering is aggravated also when assessed as a whole, the offender
 shall be sentenced for aggravated money laundering to imprisonment for at least
 four months and at most six years.

(2) An attempt is punishable.

Section 8 – Conspiracy for the commission of aggravated money laundering
A person who agrees with another on the commission of aggravated money
laundering directed at the proceeds of the giving of a bribe, the acceptance of a
bribe, or aggravated tax fraud or aggravated subsidy fraud directed at the tax
referred to in chapter 29, section 9, subsection 1(2), or at property replacing such
proceeds, shall be sentenced for conspiracy for the commission of aggravated money
laundering to a fine or to imprisonment for at most one year.

 

2. Sanctions for money laundering offence.

A fine or imprisonment up to six years.

 

3. (Legal) professions especially affected by local AML/CTF legislation.

Lawyers, except trial lawyers, are under obligation of certain duties. 

 

4. Specific regulations imposed upon attorneys at law.

Only the same regulations as other professions have.

 

b) Bar Association

 

1. Directives – formulated by the Bar Association – guiding the interpretation of the legislation and the force of these directives (binding, guideline,…).

There is a guide dated 27.2.2009. It is a guideline for Bar members.

 

2. Causes for discussion at the implementation stage of the European Directive in local legislation especially in relation to a possible conflict between this legislation and your professional code of ethics?

Not much.

 

3. Any action taken by the local Bar Association against the way in which the European directive was implemented in local legislation?

The Bar Association was heard in the parliament and we got the privilege that not all regulations concern a lawyer assisting a client in a court case or before a court case.

 

4. Other bodies that have undertaken any form of action to safeguard the rights of their members in this respect.

No.

 

c) Legal practice

 

1. Particularities that foreign attorneys at law in contact with the local legal system should be aware of / recommendations to be taken into consideration?

No.

d) Further information 

National Bureau of Investigation  
http://www.poliisi.fi/poliisi/krp/home.nsf/pages/indexeng

The Financial Supervisory Authority 
http://www.finanssivalvonta.fi/en/Pages/Default.aspx

Criminal Code 
http://www.finlex.fi/en/laki/kaannokset/1889/en18890039.pdf

Finnish Bar Association 
http://www.barassociation.fi/english

All websites mentioned above are available in English.

DISCLAIMER
The ECBA maintains this website to provide and disseminate information on criminal procedure in the EU with regard to national money laundering legislation as it applies to attorneys at law. The content of the website relies on contacts in each jurisdiction and although our aim is to keep this information accurate, the ECBA does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or reliability of the content. This information does not constitute legal advice. If errors are brought to our attention, we will try to correct them.
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Last Update ( 18 January 2011 )