Estonia's Ministry of Finance announced that the government has approved a draft bill that would give banks a clearer legal basis to temporarily halt payments where there is a justified suspicion of fraud and to exchange information needed to prevent fraud. The changes are intended to help detect financial fraud more quickly, reduce losses and limit the movement of criminal funds through the financial system. Under the bill, a bank could suspend a payment while it checks the circumstances if there are grounds to believe a customer has been misled or manipulated into making the transaction, including cases where the person thinks they are dealing with their bank but is in fact being guided by a fraudster. Banks could contact the customer to confirm whether the payment is genuinely intended. The bill would also create a legal basis for sharing relevant information with other banks, the Police and Border Guard Board, and the cyber security department of the Information System Authority. The ministry said the changes would also support anti-money laundering efforts and are linked to new European Union payment services rules agreed to strengthen anti-fraud measures across the bloc.
Ministry of Finance (Estonia)2026-05-29
Estonia's Ministry of Finance secures government approval for bill allowing banks to pause suspected fraudulent payments and share fraud information
The Ministry of Finance (Estonia) has proposed a draft bill, approved by the government, to give banks a clearer legal basis to temporarily halt payments on justified suspicion of fraud and to exchange information needed to prevent fraud. The bill allows banks to suspend suspect customer payments and share relevant data with other banks, the Police and Border Guard Board and the Information System Authority’s cyber security department, supporting anti-money laundering efforts and aligning with new EU payment services anti-fraud rules.