The government on Thursday submitted the legislative amendments on bank account monitoring system for approval and the President is expected to approve the amendments on Friday, said Ministry of the Interior.
The new law will enter into force on 1 December 2025.
The new law would add a new technical function to the Bank and Payment Account Monitoring System to give certain public authorities the right to use the system to request information on account balances and transactions.
The legislative amendments only concern the technical means of disclosing information and will not give the public authorities any additional rights of access to information.
Only the authorities that already have the right to access corresponding information will be able to use the monitoring system.
Requests would concern specific official tasks, which the relevant public authority could not complete without information on account balances and transactions.
These authorities include the Police, Finnish Security and Intelligence Service, Financial Intelligence Unit, Finnish Customs, Finnish Tax Administration, National Enforcement Authority, Finnish Border Guard, Finnish Defence Forces, and Financial Supervisory Authority.
The amendments support the objectives set out in the Government Programme to strengthen crime prevention, combat the grey economy, prevent money laundering and recover the proceeds of crime.
Earlier, the amendments to the new law were passed after the government in April 2025 submitted the proposal to the Parliament in this regard.
Source: www.dailyfinland.fi
