Tax fraud is the most common economic crime

Typical economic offences are tax offences, accounting offences and offences by a debtor. Other economic offences include fraud, embezzlement, securities market offences, environmental crimes, food crime, business secret offences, employment offences and human trafficking for labour exploitation. 

Grey economy causes major economic damage

The grey economy refers to lawful business activities where the statutory charges and taxes are left unpaid. The grey economy and economic crime cause significant losses in taxes and other charges as well as criminal damage in Finnish society every year.

As the grey economy is mostly hidden, only some of these activities become known to the authorities.

In addition to lost taxes, the grey economy causes significant losses to entrepreneurs that operate within the law, as it weakens their ability to compete. It also offers domestic and international organised crime a way of spreading its influence within the economy and other societal structures.

Traditionally, the grey economy has been prevalent especially in labour-intensive sectors, the common feature of which is using undeclared labour. However, the forms of grey economy and economic crime are in constant flux. Malpractices have increased along with new forms of working and the platform economy, for example.

The activities of international organised crime groups, operating as networks, involve economic crime and money laundering. Economic crime is often linked to money laundering, the aim of which is to conceal the criminal origin of money.

Strategy for Tackling the Grey Economy and Economic Crime

According to the Government Programme, the Government will continue working to combat tax evasion, the grey economy and economic crime.

In December 2024, the Government issued a Resolution on a Strategy for Tackling the Grey Economy and Economic Crime for 2024–2027. The Strategy and the related Action Plan promote a comprehensive, consistent and effective approach to combating the grey economy and economic crime.

The strategic objectives of the action against the grey economy and economic crime are to 

• promote healthy competition between companies and a fair labour market
• prevent the grey economy and economic crime
• ensure the capacity of authorities to tackle the grey economy and economic crime
• develop measures to tackle the grey economy and economic crime and improve cooperation between public authorities. 

The Strategy and the Action Plan were prepared under the leadership of the Ministry of Economic Affairs and Employment. The measures will be carried out in broad-based cooperation between ministries and authorities.