Report on Prevention of Money Laundering and Terrorist Financing

An amendment to the Money Laundering and Terrorist Financing Prevention Act will soon enter into force, pursuant to which companies will be required to implement certain due diligence measures for the management of risks related to money laundering and terrorist financing and to follow the Know Your Customer principle.

For example, when business relationships are established, audit and accounting services are provided or traders are paid (or pay) an amount exceeding 10,000 euros in cash, it will be necessary to identify the identity of the persons, their right of representation and the company’s beneficial owners, to determine the customer’s location or place of business and to regularly update the data collected in the course of the implementation of due diligence measures.

We have therefore prepared the Report on Prevention of Money Laundering and Terrorist Financing.

reportView sample report (pdf).

Report is available on E-Krediidiinfo

What information the report includes?

  • Beneficial owners with their participation rate in equity of the company
  • Visual chart for identifying beneficial owner or visualised chain of connections between company and beneficial owner
  • Persons with valid authority to represent the company
  • Current shareholders
  • Current supervisory board members
  • General company information (status, registration date, capital, area of activity according to EMTAK and NACE2, legal and business address)

We have added data from the Population Register for all related persons in addition to the data recorded in the Commercial Register (related person’s name, ID code/registry code, role, start date of role, the size of ownership): Estonian citizenship identifier; information about residence permits and rights; death identifier; and person’s name according to the Population Register if it is different from the information in the Commercial Register.

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