The contribution of TRINITI solicitors to the completion of the national risk assessment

Katri Tomson and Ramil Pärdi, sworn advocates within the TRINITI financial team, are participating in the preparation of the Estonian national money laundering and terrorist financing risk assessment. A national risk assessment is a sector-specific study which aims to identify, assess, and raise awareness of the risks, threats, and vulnerabilities which may be associated with money laundering and terrorist financing both at national and sectoral levels.###COLLAPSE###The risk assessment highlights the most common ways in which illegal income may be laundered or terrorist acts could be financed within Estonia. It also serves to analyse situations which require improvement (including at the legislative level), and deduce where more resources may be required in terms of providing risk prevention for the private sector entrepreneur, as well as covering situations in which the allocation of additional resources is not justified. The results of the national risk assessment make it possible for the country to divide sectors into risk classes, while assigning simplified measures to sectors in which the risk of money laundering and terrorism is assessed to be lower, and paying more attention to areas in which the risk is assessed as being higher. The preparation of the Estonian national money laundering and terrorist financing risk assessment is coordinated by the Ministry of Finance and will be completed by the end of 2020.###COLLAPSE###