International development of the last few years has incurred the necessity to pay more attention to the protection of economic environment reliability. As stated in the 3rd EU AML Directive, the massive flows of dirty money can damage the stability and reputation of the financial sector and threaten the single market. Terrorism shakes the very foundations of our society.
Despite the small size of population, Estonia cannot underrate its position in the international money laundering and terrorist financing prevention system. It is necessary that all international standards in preventing money laundering and terrorist financing are implemented to ensure sustainable and reliable development of Estonian economy.
Money laundering and terrorism are rarely internal problems of a certain country. Hence, it is pertinent to ensure the operation of the entities in international supervisory net. States should quickly, constructively and efficiently propose large-scale mutual help in investigation of cases connected with money laundering or terrorist financing. Methods and technology of these crimes can change inasmuch as countermeasures evolve. We need to make international cooperation between supervisory and investigation authorities work.
In the global information society the transparency of commerce is decreasing and thereby also the reliability. States have to extend themselves to strengthen the countermeasures for ensuring soundness and trustworthiness of the commerce. Also more and more legal persons are being used for concealment of illegal property and beneficial owners; Internet and new technologies are deployed for fast movement of illegal funds.
To prevent the criminals from succeeding in earning profits from illegal activities it is necessary to amend and improve the anti-money laundering and counter terrorist financing legislation.
The aim of this site is to offer information about the fight against money laundering and terrorist financing in Estonia and internationally.
