Financial Intelligence Unit of Latvia (FIU Latvia)

Financial Intelligence Unit of Latvia (FIU Latvia)

 

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Kariņš: The overhaul of Latvia’s financial sector supervision has been a resounding success – we have re-established the reputation of our country and created a strong and robust anti money laundering system

Following the successful implementation of a new financial crime prevention system, Latvia will not be subject to ‘enhanced surveillance’ or included in the so-called ‘grey list’, concluded the Financial Action Task Force (FATF) at its plenary session in Paris on 21 February. Latvia is the first “Moneyval” member state that has successfully implemented all FATF recommendations. 

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Moneyval experts: Latvian regulatory framework for AML/CTF/CPF largely complies the international standards set by FATF

Latvia’s regulatory framework for anti-money laundering and counter-terrorism and counter-proliferation financing (AML/CTF/CPF) largely complies with the international standards set by the Financial Action Task Force (FATF), as acknowledged by the report of the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval). Moneyval experts’ assessment and Latvia’s performance is considered an important first step towards Latvia’s non-inclusion on the so-called ‘grey list’.

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