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Finland Supports Harmonised Anti-Money Laundering Legislation and Monitoring

This press release was orginally distributed by SBWire

Reykjavik, Iceland -- (SBWIRE) -- 12/21/2022 -- The fight against money laundering and terrorist financing is very much a global one. Collaboration is likely to hold the key to effectively combating exposure to financial crime, which is why it's so vital for EU-wide measures to be put in place. The Finnish government is one that has come out in support of a new EU-level supervisory system to help improve AML Monitoring in the fight against financial crime. It has specifically stated its support for the EU objectives to harmonise EU money laundering rules and develop specific legislation that will make it easier to implement AML Monitoring and measures that will stop the flow of illicit funds through the EU.

The idea behind a supervisory system at EU level is that it complements the national infrastructure already in place for AML Monitoring and taking action against financial crime. It won't be the role of the EU supervisory authority to monitor compliance with the rules on anti-money laundering - that will remain with national governments. Instead, the EU authority will seek to establish better collaboration across the EU and to develop specific measures that will help to deal with the problem of money laundering in high-risk countries. The Finnish government supports harmonised anti-money laundering legislation and monitoring, and submitted a Union communication to the EU confirming this. Like many other countries, Finland will benefit significantly from a more coordinated approach across the EU when it comes to AML Monitoring and legislation.

The main aim of EU harmonisation of AML measures is to make it easier for compliance to be achieved. This is aligned with the goals that Lucinity has set - the platform is designed to make it simple for every organisation to upgrade AML Monitoring and do more when it comes to minimising exposure to financial crime. Given that money laundering is a crime that fuels other crimes, there are major benefits to ensuring that it is better controlled on a society wide level. Lucinity software contains all the key components for effectively protecting against financial crime and money laundering, including AML Monitoring with better detection and faster review, as well as comprehensive actor intelligence and a highly effective SAR manager. The software combines the best elements of artificial intelligence with the most useful attributes of human intelligence to create a system that is designed to work with businesses and people and not against them. This approach has been a crucial part of the mission the business has to Make Money Good.

Since Lucinity was established in 2018 it has continued to grow into a global force in AML Monitoring and compliance. Today, the platform is used all over the world and Lucinity has a network of offices that includes New York, London, Reykjavik and Brussels. As more and more governments and organisations acknowledge the importance of effective AML Monitoring it's going to become an even more vital tool for helping to minimise the potential for financial terrorism and money laundering worldwide.

About Lucinity
Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company's 'Human AI' approach, a toolset that combines next-generation AI with human insights and expertise.

By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity's AML compliance solution, including transaction monitoring, through a free demo environment available on

Lucinity operates globally, with headquarters in Reykjavik, and serves customers ranging from Tier-1 banks to FinTechs.

Company Quote

Founder and CEO, Gudjmundur Kristjansson, comments, "Lucinity's unique experience in banking, compliance, regulation, and data science has helped us develop a new approach to tackling money laundering—harnessing the best of human intelligence and augmenting it with advanced AI.
Our simple-to-use systems work with analysts, not against them, complementing their skills and making them superheroes so they can take on financial crime, saving institutions time and money in the process.

We believe that by transforming AML, we can have a tremendous positive impact on society. Money laundering is a crime that fuels crime. That is why we set out on the mission of Making Money Good."

To find out more information AML Monitoring visit
Lucinity are regular attendees at Anti-Money Laundering and Fin Tech Conventions around the world. To find out about upcoming Lucinity events visit

For any media enquiries please contact Gary Elliott at Iconic Digital – 020 7100 0726.

For all other enquiries please contact Lucinity at

For more information about Lucinity services, please go to

- Lucinity is an AML software company, founded in 2018, with offices in Reykjavik, New York, London and Brussels. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the funding of serious crime across the world.

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Media Relations Contact

Steve Pailthorpe
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