Several measures are taken to combat misconduct

Combating of misconduct comes under the UN Sustainable Development Goal:

• Peace, justice and strong institutions (16).

No misconduct or offences concerning financial management were identified at the PRH during 2024 and there were no irregularities related to EU funding or transactions involving recovery.

Under our financial rules, each PRH staff member must report any misconduct that they have observed. The prime responsibility for combating misconduct rests with the PRH management.

Whistleblower experience in the internal whistleblowing channel

In 2024, we did not receive any reports of misconduct in the internal reporting channel. Neither did the PRH receive reports for processing as a competent authority through the external whistleblowing channel of the Office of the Chancellor of Justice.

After the first year of operation of the whistleblowing channel, we examined our staff’s experiences of the whistleblowing channel. Based on the results, no significant concerns or obstacles appear to be associated with the reporting channel or the reporting itself. Reporting is considered important and part of everyone’s tasks.

There is also room for improvement in the operation of the whistleblowing channel. For example, the results showed that it is not quite clear to everyone in what cases a report should be made. There was also variation in the trust on the anonymity of reporting. Based on the results, we improved the findability of the whistleblowing channel and continue to work to raise awareness.

Anti-corruption operational programme adopted

In autumn 2024, we organised a four-month workshop, at the end of which we approved the PRH’s anti-corruption action plan and programme. We surveyed the manifestations and risk areas of corruption at the PRH and examined ways to prevent and combat corrupt or unethical activities.

We published a website on corruption and anti-corruption measures for our personnel. We also reminded the staff of reporting in the internal reporting channel if there are any suspicions or observations on the topic.

Our intent is that the PRH prevents and combats corruption through internal guidelines, by organising training and by monitoring compliance with agreed practices in accordance with the anti-corruption action plan. The purpose of the anti-corruption action plan is to engage all PRH staff in the fight against corruption.

The programme promotes compliance with the principles of legality, good governance and civil service ethics in the activities of the PRH. The purpose of the programme is to increase corruption detection skills and awareness of practices in situations where corruption or other abuses may occur.

In addition, the programme promotes the upholding of a culture in which risks of corruption are boldly addressed without undermining the possibility of corruption.

We continued effective enforcement of sanctions

In 2024, we published a guideline on the enforcement of sanctions at the PRH. The instructions described the operating principles and responsibilities for internal organisation and the measures for implementing sanctions at the PRH and its risk assessments.

We also updated the instructions for taking sanctions into account in procurements. We stepped up sanctions checks by introducing a dedicated tool. We increased our awareness of sanctions by organising an information event for our staff on sanctions and their impacts on the PRH’s activities.

We continued to develop the register of beneficial owners

The activities of companies involve a higher risk of money laundering and terrorist financing because the persons behind companies’ operations do not always act in their own name.

To reduce the risk, companies are obliged to report the details of their beneficial owners to the Trade Register and to keep the information up to date. The PRH started registering details of beneficial owners in July 2019.

In 2024, we continued the development of a comprehensive, up-to-date and quality-confirmed register of beneficial owners and an information service for matters concerning beneficial owners. In October 2024, we opened a new information service where authorised users can search for information on the beneficial owners of companies and associations. In the first phase, the beneficial owner information service can only be used by authorities that perform a supervisory task under the Money Laundering Act.

In the coming years, the service user base will be expanded to other actors that have a purpose for the beneficial owner data in accordance with the Money Laundering Act.

The beneficial owner information service has been implemented with EU funding.

The PRH continued to receive more notifications of beneficial owners

The aim of the new Trade Register Act was to improve the up-to-dateness, completeness and accuracy of the Trade Register. The PRH has improved the supervision of information on beneficial owners: during the year under review, thousands of companies were invited to submit their information on beneficial owners to the Trade Register.

In fact, significantly more notifications of beneficial owners were submitted during 2024 than in the years before that.

The removal of companies from the Trade Register based on the supervision of beneficial owner information was introduced in 2024. The PRH removed a limited liability company or a cooperative from the Trade Register if the company did not submit its financial statements or beneficial owner information within the deadline despite being requested to do so.

The PRH suspended the deregistration of companies from the register in September 2024, when the Ministry of Economic Affairs and Employment prepared an amendment to the Trade Register Act under which companies removed from the Trade Register could apply for re-registration.

We supervised the work of auditors and provided them with advice

Auditors play a key role in the identification of suspicious business activities and thus also in the combating of money laundering and terrorist financing.

The Money Laundering Act imposes obligations on auditors, and compliance with these obligations is supervised by the PRH.

The task of the PRH is also to provide auditors with advice. In 2024, we organised an information and discussion event on money laundering supervision for auditors.

The PRH was also represented in the national cooperation team of public officials to combat money laundering and terrorist financing.