{ "jurisdiction_id": "FI", "jurisdiction": "Finland", "url": "https://payments.gi/jurisdictions/finland/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 72, "source_register": 134 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w1a-licensing-authorisation-market-access", "standing_position": "Finland operates the standard EEA payment-licensing layer (Payment Institutions Act / Payment Services Act, PSD2-implementing, FIN-FSA competent authority), now overlaid by MiCA CASP authorisation and an SPI registration route capped at EUR 3m monthly volume.", "findings": [ { "finding": null, "instrument_type": "Act on Payment Institutions (297/2010)", "source": "https://www.finanssivalvonta.fi/en/financial-market-participants/banks/authorisations-registrations-and-notifications/payment-service-providers/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Act on Payment Institutions (297/2010)", "source": "https://www.finanssivalvonta.fi/en/financial-market-participants/banks/authorisations-registrations-and-notifications/payment-service-providers/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "EMI/PI capital requirements", "source": "https://www.nordiclaw.fi/en/news/how-to-be-an-emi", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "PSD2 transposition (PSA 290/2010 / PIA 297/2010)", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2025/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "PSD3/PSR (pending transposition)", "source": "https://globallawexperts.com/how-to-be-a-payment-institution-in-finland/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "MiCA CASP authorisation", "source": "https://practiceguides.chambers.com/practice-guides/blockchain-crypto-assets-2026/finland", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/finland/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "FIN-FSA and Consumer Ombudsman jointly police conduct/safeguarding/promotions; IPR VoP applies from Oct 2025 to all PSPs, PI/EMI instant-payment deadlines fall Jan/Jul 2027.", "findings": [ { "finding": null, "instrument_type": "PSD2 conduct supervision", "source": "https://www.finanssivalvonta.fi/en/Consumer-protection/payment-services/psd2--second-payment-services-directive/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Safeguarding / Instant Payments Regulation (EU) 2024/886", "source": "https://legasset.com/ready-made-emi-license-finland-for-sale/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Consumer Protection Act / financial promotions", "source": "https://www.kkv.fi/en/consumer-affairs/consumer-ombudsman/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Governance / outsourcing / PSR horizon", "source": "https://globallawexperts.com/how-to-be-a-payment-institution-in-finland/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Gambling Act financial-promotion enforcement", "source": "https://www.businessofigaming.com/finland-gambling-reform/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w2-stablecoins-digital-money", "standing_position": "Finland's MiCA transition (six months, ended 30 Jun 2025) is among the EU's shortest; FIN-FSA authorises EMT/ART issuance and CASP activity; Paxos Issuance Europe Oy issues MiCA-compliant USDG.", "findings": [ { "finding": null, "instrument_type": "MiCA (Regulation (EU) 2023/1114)", "source": "https://www.plasma.to/learn/tools/stablecoin-regulation-map/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "MiCA EMT issuance / EMI licence", "source": "https://practiceguides.chambers.com/practice-guides/blockchain-crypto-assets-2026/finland", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "MiCA reserve/redemption rules", "source": "https://www.plasma.to/learn/tools/stablecoin-regulation-map/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "AML/CFT guidance for CASPs", "source": "https://practiceguides.chambers.com/practice-guides/blockchain-crypto-assets-2026/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Act on Virtual Currency Providers (2019, repealed)", "source": "https://www.lightspark.com/knowledge/is-crypto-legal-in-finland", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w3-operational-resilience-critical-infrastructure", "standing_position": "DORA applies in Finland since 17 Jan 2025 with FIN-FSA as competent authority; 2025 cycle added AI Act thematic review.", "findings": [ { "finding": null, "instrument_type": "DORA (Regulation (EU) 2022/2554)", "source": "https://eurocomply.app/regulations/dora/finland", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "DORA ICT incident reporting", "source": "https://eurocomply.app/regulations/dora/finland", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "Outsourcing policy / FIN-FSA Regulations 8/2014", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2025/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "EU AI Act market supervision", "source": "https://www.finanssivalvonta.fi/en/publications-and-press-releases/annual-reports/annual-report-2025/supervision/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "FIN-FSA 2025 Annual Report", "source": "https://www.finanssivalvonta.fi/en/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w4-scheme-network-compliance", "standing_position": "Card-scheme compliance runs on global PCI DSS baseline layered with IPR scheme-level obligations; no bespoke FI interchange/surcharging statute identified.", "findings": [ { "finding": null, "instrument_type": "PCI DSS", "source": "https://www.pcisecuritystandards.org/standards/pci-dss/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Visa scheme compliance rules", "source": "https://www.visa.fi/fi_FI/partner-with-us/pci-dss-compliance-information.html", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "Instant Payments Regulation (EU) 2024/886", "source": "https://legasset.com/ready-made-emi-license-finland-for-sale/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w5-payment-corridor-dynamics", "standing_position": "Principal corridors run through SEPA/SEPA Instant and the Siirto national instant-payment rail, supplemented by P27 Nordic integration and CESOP reporting.", "findings": [ { "finding": null, "instrument_type": "SEPA membership", "source": "https://www.trade.gov/country-commercial-guides/finland-trade-financing", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "Finnish Instant Payments Scheme Rulebook", "source": "https://www.suomenpankki.fi/en/news-and-topical/press-releases-and-news/releases/2025/responsibility-for-developing-a-finnish-instant-payment-solution-is-to-be-transferred-from-the-payments-council-to-siirto-brand-oy/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Siirto instant-payment rail", "source": "https://www.transfi.com/blog/finlands-payment-rails-sepa-siirto-and-the-digital-first-economy", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Act on the information-reporting requirement (659/2023) / CESOP", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2025/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "P27 Nordic Payments", "source": "https://www.mckinsey.com/industries/financial-services/our-insights/nordic-payments-where-collaboration-and-competition-lead-to-innovation", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w6-industry-structure-commercial-dynamics", "standing_position": "Market remains bank-dominated (OP, Nordea, Danske) with shared-utility infrastructure and consolidating bank-owned wallet infrastructure.", "findings": [ { "finding": null, "instrument_type": "Market structure", "source": "https://www.trade.gov/country-commercial-guides/finland-trade-financing", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "National Payments Council / Monitoring Group", "source": "https://www.suomenpankki.fi/en/news-and-topical/press-releases-and-news/releases/2025/responsibility-for-developing-a-finnish-instant-payment-solution-is-to-be-transferred-from-the-payments-council-to-siirto-brand-oy/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Bank-led payments utilities", "source": "https://www.mckinsey.com/industries/financial-services/our-insights/nordic-payments-where-collaboration-and-competition-lead-to-innovation", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Mobile wallet consolidation", "source": "https://www.kenresearch.com/finland-payments-market", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "BNPL/PSP orchestration", "source": "https://www.researchandmarkets.com/reports/5305012/finland-buy-now-pay-later-business-and", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w7-legal-litigation", "standing_position": "FIN-FSA maintains active AML enforcement record; 2024 NYDFS $35m Nordea settlement is the most consequential payments-adjacent litigation.", "findings": [ { "finding": null, "instrument_type": "AML Act enforcement", "source": "https://www.finanssivalvonta.fi/en/financial-market-participants/banks/prevention-of-money-laundering-and-terrorist-financing/current-provisions/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "AML Act enforcement", "source": "https://www.finanssivalvonta.fi/en/financial-market-participants/banks/prevention-of-money-laundering-and-terrorist-financing/current-provisions/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Financial Supervisory Authority Act, Section 26", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2025/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "NYDFS Consent Order (BSA/AML)", "source": "https://www.dfs.ny.gov/reports_and_publications/press_releases/pr20240827", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Sanctions monitoring thematic review", "source": "https://www.finanssivalvonta.fi/en/publications-and-press-releases/annual-reports/annual-report-2025/supervision/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Administrative penalty payment", "source": "https://www.finanssivalvonta.fi/en/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w8-merchant-acquiring-risk", "standing_position": "Merchant acquiring licensed as a payment service under PIA; incoming gambling regime formalises payment-blocking as enforcement tool.", "findings": [ { "finding": null, "instrument_type": "Act on Payment Institutions (297/2010) - acquiring", "source": "https://www.finanssivalvonta.fi/en/financial-market-participants/banks/authorisations-registrations-and-notifications/payment-service-providers/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "High-risk merchant underwriting practice", "source": "https://durangomerchantservices.com/credit-card-processing-and-high-risk-merchant-accounts-in-finland/", "source_url": null, "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "Payment blocking (Gambling Act enforcement)", "source": "https://zimpler.com/blog/igaming-regulation-in-finland-the-ultimate-guide/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w9-product-innovation-market-development", "standing_position": "Bank of Finland-coordinated instant-payment rail development, prospective ECB digital-euro alignment, TIBER-FI testing and rapid A2A growth define the innovation frontier.", "findings": [ { "finding": null, "instrument_type": "National instant-payment solution", "source": "https://www.suomenpankki.fi/en/news-and-topical/press-releases-and-news/releases/2025/responsibility-for-developing-a-finnish-instant-payment-solution-is-to-be-transferred-from-the-payments-council-to-siirto-brand-oy/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Digital euro / instant payments interplay", "source": "https://www.centralbanking.com/central-banks/currency/digital-currencies/7963556/finlands-fintech-head-on-retail-cdbcs-versus-instant-payments", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "TIBER-FI cyber-resilience testing", "source": "https://editorialge.com/finland-banking-system-cbdc-exploration-2026/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Digital identity / open banking", "source": "https://mobileidworld.com/finnish-banks-op-financial-and-nordea-lead-digital-payment-market-transformation/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Account-to-account (A2A) payments", "source": "https://noda.live/articles/payment-methods-in-finland", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w10-consumer-protection-app-fraud", "standing_position": "Dispute resolution runs through FINE and Consumer Ombudsman; no UK-style APP-fraud reimbursement rule; FIN-FSA flags fraud as rising supervisory priority.", "findings": [ { "finding": null, "instrument_type": "FINE Financial Ombudsman Bureau", "source": "https://www.finanssivalvonta.fi/en/consumers/problems-with-a-service-provider/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Payment Services Act - unauthorised payment refund", "source": "https://www.tuteladigitalis.com/blog/report-scam-finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "FIN-FSA EU advocacy", "source": "https://www.tuteladigitalis.com/blog/report-scam-finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Consumer Ombudsman collective supervision", "source": "https://www.kkv.fi/en/consumer-affairs/consumer-ombudsman/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "FIN-FSA fraud supervisory priority", "source": "https://www.grip.globalrelay.com/fin-fsa-announces-supervisory-priorities-for-2025/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w11-aml-cft-financial-crime", "standing_position": "AML/CFT regime (Act 444/2017) supervised risk-based by FIN-FSA; recent focus on sanctions-monitoring gaps at PSPs and 2027-28 FATF Mutual Evaluation prep.", "findings": [ { "finding": null, "instrument_type": "AML enforcement record", "source": "https://www.finanssivalvonta.fi/en/financial-market-participants/banks/prevention-of-money-laundering-and-terrorist-financing/current-provisions/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Finland's AML/CFT Act implements EU 4th/5th AMLD; FIN-FSA, Police (NBI), Patent and Registry Office, regional state agencies and the Bar Association supervise obliged entities. FATF rates Finland compliant on 9, largely compliant on 28, partially compliant on 3 of 40 Recommendations (Oct 2023 re-rating), with DNFBP supervision and BO-information access still flagged as weak.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — Finland", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: absent-field-provenance", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-006)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Enforcement: Finnish District Court (via national prosecutors) — Transport company CEO exporting trucks/trailers to Russia", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-001)", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": "Enforcement: Danish Special Crime Unit (NSK), affecting Helsinki-headquartered Nordea — Nordea Bank Abp (Finland-based parent)", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-004)", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": "Enforcement: Finnish Border Guard/Navy as JEF ally, alongside Estonia and Sweden — Russian shadow-fleet tankers transiting the Gulf of Finland/Baltic Sea", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-002)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Gap: regulatory-failure", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: political-constraint", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: enforcement-absence", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)", "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/finland/#w12-correspondent-banking-settlement-access", "standing_position": "Correspondent-banking access runs primarily through Nordea (BIC NDEAFIHH); 2024 NYDFS consent order exposed material AML control gaps, prompting continued FIN-FSA follow-up.", "findings": [ { "finding": null, "instrument_type": "NYDFS Consent Order", "source": "https://www.dfs.ny.gov/reports_and_publications/press_releases/pr20240827", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "TARGET2 / EURO1 / SWIFT CBPR+ / ISO 20022", "source": "https://www.nordea.com/en/our-services/transaction-banking", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "NYDFS Consent Order detail", "source": "https://www.dfs.ny.gov/industry-guidance/enforcement-discipline/ea20240827-co-nordea", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Standard Settlement Instructions", "source": "https://www.nordea.com/en/doc/standard-settlement-instructions-nordea.pdf", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "Sanctions-evasion supervisory review", "source": "https://www.finanssivalvonta.fi/en/publications-and-press-releases/annual-reports/annual-report-2025/supervision/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/finland/#w13-commercial-intelligence-fintech", "standing_position": "Trailing-12-month commercial activity centres on Paxos USDG launch, continued VC funding growth, and cross-border expansion by Coinmotion/Holvi/Nomentia.", "findings": [ { "finding": null, "instrument_type": "commercial_event: product launch", "source": "https://practiceguides.chambers.com/practice-guides/blockchain-crypto-assets-2026/finland", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event: market signal", "source": "https://tracxn.com/d/explore/fintech-startups-in-finland/__I1YSbgynO7BiDN2aQwUujFbyfOKApiE6CRqD80jd56c#top-companies", "source_url": null, "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event: expansion", "source": "https://tracxn.com/d/explore/fintech-startups-in-finland/__I1YSbgynO7BiDN2aQwUujFbyfOKApiE6CRqD80jd56c#top-companies", "source_url": null, "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event: expansion", "source": "https://tracxn.com/d/explore/fintech-startups-in-finland/__I1YSbgynO7BiDN2aQwUujFbyfOKApiE6CRqD80jd56c#top-companies", "source_url": null, "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event: partnership", "source": "https://tracxn.com/d/explore/fintech-startups-in-finland/__I1YSbgynO7BiDN2aQwUujFbyfOKApiE6CRqD80jd56c#top-companies", "source_url": null, "source_tier": "4", "retrieved_at": null } ] } ] }