Estonia: Opportunities for the Control of Money Laundering

Abstract

Money laundering is a problem of world importance, and in the European Union it constitutes a part of the so‐called third pillar. According to an International Monetary Fund (IMF) report, up to $500bn of the money in the world economy in 1996 could have been of suspicious origin. Estonia, which is aspiring to integrate into the European economic space, has the obligation to deal actively with the problem. But it is still difficult to discuss, because Estonia has no special law on money‐laundering control and therefore financial systems are almost totally unprotected. Unfortunately, it has to be admitted that there is widespread money laundering in Estonia.

Citation

Leps, A. (1998), "Estonia: Opportunities for the Control of Money Laundering", Journal of Money Laundering Control, Vol. 1 No. 3, pp. 259-260. https://doi.org/10.1108/eb027148