ACAMS Symposium held: comments of the Minister of Finance of Estonia

On March 22, a symposium of ACAMS (Association of Certified Anti-Money Laundering Specialists) was held in Tallinn. In her opening speech, Estonian Minister of Finance Anneli Ackermann stated that Estonia, as one of the leading countries bordering russia, has done everything possible to implement sanctions against the aggressor country as strictly as possible.

According to her, more efforts should be made to strengthen sanctions evasion measures and close all possible loopholes. She also stated that more than 1.5 thousand facts of sanctions violations have been identified.

The role of cryptocurrencies in sanctions evasion is also growing. In particular, virtual currency is used to hide the origin of an asset and the counterparty to a transaction. 

Recently, Estonia was also audited by the Council of Europe's MONEYVAL expert committee, which positively assessed Estonia's ability to fight money laundering and terrorist financing. 

Source: Ministry of Finance of Estonia