Differences of the Anti-Money Laundering Authorities in the Nordics
Fremling, Amanda (2022)
2022
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022112524110
https://urn.fi/URN:NBN:fi:amk-2022112524110
Tiivistelmä
The purpose of this thesis was to present the relevant anti-money laundering authorities in the Nordic countries which are Finland, Sweden, Norway, Denmark, and Iceland. Additionally this research presents the most common punishments to money laundering crimes in the Nordics. The objective was to compare the differences of the anti-money laundering supervisory authorities of audit firms and their actions in the Nordic countries. This comparative research was executed for a global professional services firm to provide knowledge base which the target organization can use when possibly aligning their anti-money laundering procedures within the Nordic member firms in the future.
The theoretical background used in this research was gathered from various country specific official sources, relevant legislations as well as other resources relevant to the subject. This thesis was executed as qualitative research using triangulation as research method, more specifically the data was collected by a semi-structured interview. The respondents consisted of nine professionals who have participated in the audit process performed by the regulator. The results were analyzed by content analysis and by creating various tables. As the countries belong to either the EU or the EEA, they are obligated to comply with the EU directives, which is why no major differences were found. The differences which could be found related to the regulators’ activeness and processes. For the target organization to be able to align their processes this subject should be further studied.
The theoretical background used in this research was gathered from various country specific official sources, relevant legislations as well as other resources relevant to the subject. This thesis was executed as qualitative research using triangulation as research method, more specifically the data was collected by a semi-structured interview. The respondents consisted of nine professionals who have participated in the audit process performed by the regulator. The results were analyzed by content analysis and by creating various tables. As the countries belong to either the EU or the EEA, they are obligated to comply with the EU directives, which is why no major differences were found. The differences which could be found related to the regulators’ activeness and processes. For the target organization to be able to align their processes this subject should be further studied.