Finland President Signs Laws on Payment Service Provider Reporting Obligations on Cross-Border Transactions

The Finnish President March 23 signed laws on cross-border reporting requirements for payment service providers. The laws include measures: 1) requiring payment service providers furnishing payment services in Finland, to report specific information on cross-border payments and meet record keeping requirements; 2) specifying the information required in reporting; and 3) imposing penalties for noncompliance. The law enters into force Jan. 1, 2025. [Finland, Government Portal, 03/23/23]

Reference: View Legislative History of Bill No. HE 317/2022 vp. View Index. View Law on Cross-Border Reporting, in Finnish. View Law on Cross-Border Reporting, in Swedish. View Law on Cross-Border ...