EstoniaLatvia’s Financial and Capital Market Commission issued a press release announcing that it coordinated with the supervisory authorities of Estonia and Lithuania to instruct Luminor AS to improve its anti-money laundering systems.
The Council of Europe Group of States Against Corruption published a Fifth Round Evaluation Compliance Report concerning Estonia’s anti-corruption regime for the central government and law enforcement agencies.
Estonia Intensifies Cryptocurrency Crackdown
Estonia has revoked the operating licenses of hundreds of cryptocurrency exchanges over the past two years and plans to continue the crackdown in the months ahead, the head of the country’s FIU told ACAMS moneylaundering.com. (Getty Images)
U.S. prosecutor pledges more ransomware seizures, China dismantles cryptocurrency laundering ring, and more, in the midweek roundup.
Baltic Nations Ambivalent Over EU-level AML Supervision
Legal Brief: AML Overhaul in the Baltics
The Estonian Financial Intelligence Unit, Finantsinspektsioon, withdrew the operating licence of the Tallinn, Estonia based financial institution for serious breaches of anti-money laundering and terrorist financing requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 8 | High : |
| Largely Compliant : 27 | Substantial : |
| Partially Compliant : 12 | Moderate : |
| Non-Compliant : 1 | Low : |
| Not-Applicable : 1 |
| Rank : 141/141 |
| Score : 2.36/10 |
| Rank : 17/179 |
| Score : 75/100 |
| Rank : 121/133 |
| Score : 43/100 |