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03.07.2020|Ministry of Finance

Estonia signs an agreement with Freeh Sporkin & Sullivan for advice on investigations into past AML cases

Martin Helme, Minister of Finance of Estonia, has signed an agreement with the US law firm Freeh Sporkin & Sullivan for legal advice and representation in the United States in connection with international investigations into past AML breaches.  The law firm will be a partner for the...
18.06.2020|Ministry of Finance

Estonia fully transposes the European Union money laundering directives

The Parliament of Estonia yesterday approved the amendments to the Money Laundering and Terrorist Financing Prevention Act, which significantly enhances the current possibilities for the prevention of money laundering. The approved amendments improve the definition of money laundering, provide...
18.06.2020|Ministry of Finance

The fight against money laundering is centred within the jurisdiction of the Ministry of Finance

The amendments of the Money Laundering and Terrorist Financing Act, passed yesterday by the Riigikogu, brings the Financial Intelligence Unit, which until now has been a part of the Police and Border Guard Board, under the administration of the Ministry of Finance, as an autonomous institution. The...
02.06.2020|Ministry of Finance

Financial Intelligence Unit to become a separate institution

As agreed by the government coalition, the Financial Intelligence Unit (FIU), currently a part of the Police and Border Guard Board, is to become a separate institution in the area of government of the Ministry of Finance.  Minister of Finance Martin Helme on has presented the Finance...
06.02.2020|Ministry of Finance

The Government Committee on the Prevention of Money Laundering approved the Moneyval Action Plan

The meeting of the Government Committee on the Prevention of Money Laundering and Terrorism Financing, held on Tuesday, 4th of February, approved the action plan for the preparation of the Moneyval evaluation. In the fall of the year 2021, Estonia faces a new evaluation by Moneyval - the Council...
10.01.2020|Ministry of Finance

Martin Helme: fighting money laundering must be smarter

According to Minister of Finance Martin Helme, the fight against money laundering in banks must be smarter and more thought-out, so that honest companies are not affected in the process and Estonia does not lose new investments. "Countering money laundering remains one of our priorities, but today...
23.12.2019|Ministry of Finance

Estonia enhances the efficiency of the fight against money laundering

The government has approved draft changes to the Money Laundering and Terrorist Financing Prevention Act, which will significantly improve the scope of preventing money laundering. The planned changes would create protection for whistleblowers and a legal basis for creating a database of bank...
04.12.2019|Ministry of Finance

The Government Committee discussed preparations for the Moneyval evaluation

On Friday the 28th of November, at the session of the Government Committee on the Prevention of Money Laundering and Terrorism Financing, the members of the committee received an overview of the activities of the Financial Supervision Authority, the Financial Intelligence Unit and the Prosecutor's...
02.12.2019|Ministry of Finance

The Ministry of Finance wants to increase the financial sector fines

The government of Estonia approved the draft legislation presented by the Ministry of Finance, which significantly improves the state’s possibilities to combat money laundering through substantially increased fines in the financial sector. “Estonia is not a place for money laundering. It is...
30.09.2019|Ministry of Finance

Government commission: Moneyval assessment must be taken very seriously

At the regular meeting of the Government AML/CFT Commission held on Wednesday, 25 September, the commission was given an overview of the activities of the Financial Supervision Authority, the Financial Intelligence Unit and the Prosecutor's Office in the prevention of money laundering during the...

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