Estonia's Financial Intelligence Unit to be audited
The Ministry of Finance is conducting an audit at the Financial Intelligence Unit (FIU) to assess whether the internal control system governing data use complies with laws and internal procedures.
The ministry informed the Financial Intelligence Unit (FIU) that audit procedures will be carried out from March 16 to July 31. If any issues are identified, the audit report will be sent to the parties for comment.
The FIU has faced criticism for submitting a large number of requests for access to bank data, which have infringed on bank secrecy. The chancellor of justice has also repeatedly drawn attention to the questionable nature of such activities.
Recently, Tallinn Administrative Court issued a ruling confirming the position of the complainant, LHV Pank, that Estonia's current legal framework does not allow the FIU to request customer bank account statements from banks without a sufficient legal basis. However, the FIU maintains that it does have this right and intends to appeal the decision.
The government recently appointed Matis Mäeker, at the proposal of the minister of finance, to a new term as head of the FIU. The new five-year term will begin on June 14.
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Editor: Marcus Turovski
