Estonia's FIU publishes new list of countries with higher risk of terrorist financing

TALLINN – The Financial Intelligence Unit (FIU) on Estonia on Wednesday established a new list of countries with a higher risk of terrorist financing.

Based on assessments by the European Union, the Financial Action Task Force (FATF), and Estonia's national authorities, the list includes 32 jurisdictions.

Kyrgyzstan, Tajikistan, and Turkmenistan have been added to the FIU's list of countries with a higher risk of terrorist financing, as risks associated with Central Asia have resurfaced due to the activities of terrorist organizations.

Laura Aus, deputy head of the FIU, said that, most notably, the United Arab Emirates remains on the list of countries with a higher risk of terrorist financing. Although it is no longer on the FATF's "grey list," it has now been put on EU's list of high-risk third countries, considering the international context of countering money laundering and terrorist financing.

The approach of high-risk countries is primarily aimed at targeting Islamic extremism. In contrast, with other forms of violent extremism, such as violent left- or right-wing extremism, the connection to a high-risk country does not play a role; only suspicions of terrorist financing are relevant.

A higher risk of terrorist financing does not mean that a specific country is financing terrorism, but indicates a potential risk that could materialize under certain circumstances.

The list of countries with a higher risk of terrorist financing is compiled in cooperation with the Estonian Internal Security Service (ISS). The list is reviewed annually and updated as necessary.