The role of the new round of evaluations in strengthening countries’ anti-money laundering efforts

The conference brought together senior representatives from key international and European institutions, including MONEYVAL, MENAFATF and other FATF Style Regional Bodies (FSRB), the Egmont Group, the European Commission, the EU Anti-Money Laundering Authority (AMLA), the European Public Prosecutor’s Office (EPPO), European Bank for Reconstruction and Development (EBRD), Head of Delegations to FATF, MONEYVAL, and FSRBs, Head of FIU’s, central banks and global financial institutions, alongside experts from the private sector and academia. In addition, Financial Intelligence Units from 30 countries continued discussions the following day during a closed working session hosted by the FIU Latvia, focusing on practical preparations for the new round of evaluations of AML/CFT systems.

“What stood out was not only the depth of expertise, but the quality of the exchange. Discussions were open and direct, with a clear willingness to move beyond abstract principles toward practical applications. The key message was simple: evaluations matter when jurisdictions take a proactive approach and use them to identify real risks and drive tangible improvements," said Toms Platacis, Head of the FIU Latvia, Vice-Chair of MONEYVAL.

Mutual evaluations as a catalyst for reform

The high-level discussion, titled “FATF/MONEYVAL mutual evaluations as a catalyst for strengthening national systems”, emphasized that the mutual evaluations are not a formal exercise, but a trust-building mechanism, increasingly shaped by a risk-based approach and requiring countries to follow a clear, long-term strategy that continues well beyond the publication of the mutual evaluation report (MER). Participants highlighted that achieving strong results supports financial stability, economic growth, and international confidence, while also helping jurisdictions avoid the significant reputational and market consequences associated with grey listing.

The conference featured several panel discussions with distinguished participants from national authorities, international organisations, and the private sector. Through an expert exchange of views, the panels provided valuable insights into the new round of AML/CFT evaluations.  The panel discussions explored the new round of evaluations from several perspectives, including the EU dimension, where increased harmonisation through the AML package and the establishment of AMLA were highlighted as major steps toward consistency, stronger supervision, and enhanced FIU cooperation, while preserving a genuinely risk-based approach. Further sessions focused on preparations and lessons learned, as well as financial sector security, underscoring the importance of using MERs as a practical tool for long-term improvement and credibility, and ensuring that effectiveness is demonstrated through real outcomes.

The conference featured Livia Stoica Becht, Executive Secretary of GRECO and Head of the Economic Crime and Corruption Department at the Council of Europe, Nicola Muccioli, Chair of MONEYVAL, Mārtiņš Kazāks, Governor of Latvijas Banka, Francis Malige, Managing Director and Head of the Financial Institutions Business Group at the European Bank for Reconstruction and Development (EBRD), Toms Platacis, Head of the FIU Latvia and Vice-Chair of MONEYVAL, Suliman Aljabrin, Executive Secretary of MENAFATF, Lado Lalicic, Executive Secretary of MONEYVAL, Edward Conway, Executive Secretary of Wolfsberg group, Simonas Krėpšta, Executive Board Member of the EU Anti-Money Laundering Authority (AMLA), Gatis Doniks, European Prosecutor at the European Public Prosecutor’s Office (EPPO), Raluca Pruna, Head of Unit at the European Commission’s Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA), Sébastien de Brouwer, Deputy CEO of the European Banking Federation, and Paulis Iļjenkovs, Deputy Head of the Financial Intelligence Unit of Latvia, and many other distinguished speakers. FIU Latvia thanks all the experts and participants for their valuable contributions to the conference’s content.

Photographs from the conference are available on FIU Latvia’s Flickr account.

Photo: The Financial Intelligence Unit of Latvia
 

The conference was supported by the Investment and Development Agency of Latvia (LIAA).

FIU Latvia is an independent authority responsible for preventing money laundering and terrorist and proliferation financing, implementing sanctions, protecting the Latvian financial system from misuse, and cooperating with international partners.