Adopted at the Council of Europe’s anti-money laundering Committee’s 45th Plenary Meeting (15 - 19 September), the Moneyval report calls on Estonia to strengthen the sanctioning framework for breaches of anti-money laundering/combating financing of terrorism (AML/CFT) requirements and to apply a broader range of dissuasive and effective sanctions.
The Moneyval 4th cycle of assessments is a follow-up round, in which important FATF Recommendations have been re-assessed, as well as all those for which the state concerned received "Non-Compliant” (NC) or “Partially Compliant” (PC) ratings in its 3rd round report.
This report on Estonia is not, therefore, a full assessment against the FATF 40 Recommendations and 9 Special Recommendations but is an update on major issues in the AML/CFT system in Estonia.
According to Moneyval’s procedures and the decision of the 45th Plenary, Estonia was placed under the regular follow-up procedure.
