March 7, 2018
Press release: Assistant Secretary for Terrorist Financing Marshall Billingslea meets with Estonian Counterparts on Countering Threats to the International Financial System
On March 6 and 7, Department of the Treasury’s Assistant Secretary for Terrorist Financing Marshall Billingslea met with his Estonian government and private sector counterparts regarding the continued threats to the international financial system from illicit finance. In his meetings, A/S Billingslea discussed the importance of robust anti-money laundering and countering terrorist financing (AML/CFT) regimes and the stringent enforcement of those regimes. He underscored risks inherent to the non-resident banking sector, particularly the challenges of ensuring AML/CFT compliance given that non-resident banks can have difficulties verifying clients’ background and business activities.
Assistant Secretary Billingslea applauded the steps already taken by Estonia to reduce non-resident banking deposits and to counter illicit finance threats. Recognizing that challenges persist, the United States and Estonia committed to continuing to work together to further strengthen the banking sector.