“The Estonian Financial Intelligence Unit is making the financial sector safer in not only Estonia, but the entire world,” Ambassador Kent said. “In today’s world, with money transfers, crypto trading, and cybercrimes moving faster than you can swipe your phone, having a well-functioning and effective FIU is essential in safeguarding a country’s financial system. Estonia is a trusted and dependable partner for the United States, and we will continue to seize every opportunity available to support you.”
At the conference, the Estonian FIU Yearbook 2022 was presented. Several cross-border cases of preventing money laundering and terrorist financing, published in the FIU Yearbook, were also discussed at the conference. Due to Russia's military aggression in Ukraine, the Yearbook of 2022 unfolds financial sanctions in greater detail.
"Estonia will only become stronger in the fight against money laundering and terrorist financing, if we involve external competence and knowledge, and exchange experiences with each other. The conference organized by the Estonian FIU and the newly published yearbook serve this purpose," said Matis Mäeker, head of the Estonian FIU.
Several foreign speakers pointed out Estonia's achievements, such as international cooperation, an excellent result in the international MONEYVAL evaluation process, investigation of money laundering cases of banks, overcoming the consequences of Russia's military aggression, implementation of the sanction, as well as the commitment of the authorities and the political will of the government in taking steps for preventing money laundering. Systematic approach, more specifically the country's risk assessment and risk appetite, were seen as areas for development in Estonia.
The first day of the conference was dedicated to the challenges of the private sector. 30 March, the second day, is reserved to the public sector for discussing investigation of money laundering and confiscation of assets. On 31 March, the focus is on preventing terrorism financing. A parallel session on money laundering and confiscation will be held for judges, prosecutors, and law enforcement officials.
