Ilmoitusvelvollisten

Ilmoitusvelvollisten is the Finnish term used to describe individuals or organizations that, by statute, have a duty to notify authorities when certain information or events occur. The concept is most closely associated with anti-money laundering and the financing of terrorism regimes, where conducting reporting helps authorities detect and prevent illicit activity. The applicable framework is the Money Laundering and Terrorist Financing Act and related regulations, which establish obligations aimed at identifying risks, preventing abuse, and maintaining proper documentation.

Under these duties, ilmoitusvelvolliset must perform ongoing customer due diligence, monitor transactions, maintain records, and submit reports about suspicious activity or large cash transactions to Finland’s Financial Intelligence Unit (FIU). Reports from ilmoitusvelvolliset support risk assessment, investigations, and enforcement efforts by authorities.

Who counts as ilmoitusvelvollinen can cover both natural persons and legal entities involved in handling financial transactions or customer documentation. The most common examples include banks and other financial institutions, payment service providers, and certain professionals who participate in financially relevant activities. This may include lawyers, notaries, external auditors, tax advisers, and others such as real estate agents or high-value dealers when their activities trigger reporting duties under the applicable regulations. The precise scope depends on the activity and the regulatory regime in force.

Non-compliance with reporting duties can lead to penalties, including fines or criminal liability, and may also result in supervisory actions or reputational harm. The concept reflects a broader effort to ensure transparency and integrity in financial markets.