IMF's report on money laundering risks in the Nordic-Baltic region published | Finanstilsynet

https://www.dfsa.dk/news/2023/sep/imfs-report-on-money-laundering-risks-in-the-nordic-baltic-region-published
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2026-03-24 08:14:12 · arahman@vixio.com
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On behalf of the Nordic and Baltic countries, the IMF has analyzed money laundering risks in the Nordic-Baltic region. Based on this, the IMF makes recommendations to the countries on how efforts to combat money laundering can be strengthened, for example through increased cooperation between the countries.

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TITLE: International Monetary Fund Publishes Regional Report on Money Laundering Risks in Nordic-Baltic Countries BODY: On September 4, 2023, the International Monetary Fund (IMF) published a Regional Nordic-Baltic Technical Assistance Report titled "Financial Flows Analysis, AML/CFT Supervision, and Financial Stability." The report represents the first regional technical assistance project on anti-money laundering and counter-terrorism financing (AML/CFT), conducted in partnership with Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The IMF employed machine learning technology to analyse cross-border money laundering risks at both country-specific and regional levels. The analysis assessed the effectiveness of existing AML/CFT supervisory tools in responding to identified risks and explored the potential impact of money laundering on financial stability across the region. Key recommendations from the report include: continuous monitoring of cross-border financial flows; establishment of regional information exchange mechanisms to track macro-trends; improved identification of countries presenting specific money laundering risks to the Nordic-Baltic region; increased collection of cross-border data and investment in advanced data analytics tools; coordinated supervisory action targeting highest-risk banks; and ongoing analysis of AML/CFT breaches' impact on financial stability. The report emphasises that coordinated action and innovative solutions are essential to address evolving money laundering risks. The Danish Financial Supervisory Authority (DFSA) welcomes the IMF's recommendations, noting they align with ongoing Danish efforts. The DFSA operates comprehensive databases and analysis systems utilising regular reports from obliged entities, and continues enhancing its supervisory capabilities through integration of qualitative information from open and internal sources alongside quantitative data collection. The report supplements existing European-level cooperation on countering money laundering and terrorist financing.
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  • ✓ By:arahman@vixio.com (35)