About disturbing news released in press concerning Tavid AS involvement in money laundering scheme
Tavid AS has not been requested by any local or international organization to provide any information regarding any suspected money laundering. The prosecution and money laundering bureau have confirmed that Tavid is not charged or under suspicion.
As we are the largest currency exchange company in Estonia therefore our company’s name just caught the reporters’ attention and apparently they saw an opportunity for a story. But as always you can’t believe everything that you read from the newspapers – accusations were wrongly interpreted – basically our company’s name was torn out of context.
Our company was established more than fifteen years ago and during that time we have been always operating only according to the law, every kind of business that we do is legal and preventing money laundering has been under special notice. Therefore, money laundering through Tavid AS is impossible.
Tavid AS complies with the requirements and submits suspicious transaction reports to Estonian Financial Intelligence Unit and we confirm that Tavid AS fully complies with the Financial Action Task Force standards and in particular with the obligation to initiate a process of identifying customers, both corporate and individuals, that are suspected of involvement in terrorist financing, reporting to Estonian Financial Intelligence Unit, developing and maintaining internal policies, procedures and controls and maintaining an ongoing employee anti money laundering training program.
Official response from the public prosecutor’s office is attached below. Translated to English it says: “As a response to your request for information we notify that according to The Public Prosecutor’s Office there are no criminal investigations where Tavid is under suspicion. Also there are no legal assistance requests from foreign states in criminal investigations, where Tavid would be accused or suspected in money laundering.”