A European Money Laundering Curiosity: Self-Laundering in Finland

Abstract

Third-party money laundering has been comprehensively criminalised in the European Union member states. In contrast, many states have traditionally had a more negative attitude towards the punishability of self-laundering. Then again, under international pressure, member states have agreed to also criminalise self-laundering either completely or partly in recent years. Finland has also struggled with the criminalisation of self-laundering. So far, the main rule in Finland is the non-punishability of self-laundering. However, according to the valid exceptional rule, self-laundering can be punished if the money laundering offence, with consideration to the continuous and planned nature of the acts forms the most essential and blameworthy part of the totality of offences (Finnish Penal Code, Chapter 32, Section 11). This article critically examines the unique legislative solution of Finland and demonstrates that the punishability of self-laundering has remained a dead letter. Relying on international comparative material and supranational criminal policy, the article also suggests that the Finnish legislator should consider more comprehensive criminalisation of self-laundering.