An Anti-Money Laundering Guidebook for Finnish accounting Company X.
Ratilainen, Anita (2023)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023052313082
https://urn.fi/URN:NBN:fi:amk-2023052313082
Tiivistelmä
The aim of this thesis was to produce an Anti-Money Laundering (AML) guidebook in the English language, for Company X. Company X is a small sized accounting firm established in Fin- land with non-native Finnish speaking employees. Since the implementation of the third EU AML directive, accounting firms have been bound as obligated entities in the fight against money laundering.
As part of the Finnish Act of Preventing Money Laundering and Terrorist Financing (444/2017), obligated entities are required to ensure that their employees are provided with training so that they are compliant with the Act. With recent implementation of EU AML directive six, Company X required a guidebook in English which included the recent changes, in order to provide a foundation level of AML training for its employees.
The dynamically changing directives, laws, and decrees from both international and national perspectives makes it difficult to have up to date information on what the requirements are for an obligated entity. To produce a guidebook for Company X, a thorough review of literature and legal documents, were utilised to establish a basis on both the history, and the current state of AML in Finland.
A survey stylised as an interview was completed with one representative from Company X, and three other SME accounting owners and accountants so to help decipher what AML requirements were, and what content would provide the most adequate guidebook for SME accounting firm, Company X. The produced AML guidebook in English, whilst tailored for Company X, other Finnish SME Finnish accounting and bookkeeping firms can benefit from its use.
The completed guidebook details the requirements that Company X as a SME accounting firm operating in Finland must follow to fulfil their legal obligations in relation to Anti-Money Laundering.
As part of the Finnish Act of Preventing Money Laundering and Terrorist Financing (444/2017), obligated entities are required to ensure that their employees are provided with training so that they are compliant with the Act. With recent implementation of EU AML directive six, Company X required a guidebook in English which included the recent changes, in order to provide a foundation level of AML training for its employees.
The dynamically changing directives, laws, and decrees from both international and national perspectives makes it difficult to have up to date information on what the requirements are for an obligated entity. To produce a guidebook for Company X, a thorough review of literature and legal documents, were utilised to establish a basis on both the history, and the current state of AML in Finland.
A survey stylised as an interview was completed with one representative from Company X, and three other SME accounting owners and accountants so to help decipher what AML requirements were, and what content would provide the most adequate guidebook for SME accounting firm, Company X. The produced AML guidebook in English, whilst tailored for Company X, other Finnish SME Finnish accounting and bookkeeping firms can benefit from its use.
The completed guidebook details the requirements that Company X as a SME accounting firm operating in Finland must follow to fulfil their legal obligations in relation to Anti-Money Laundering.