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Republic Of Latvia :, Detailed Assessment Of Anti-Money Laundering And Combating The Financing Of Terrorism

Label
Republic Of Latvia :, Detailed Assessment Of Anti-Money Laundering And Combating The Financing Of Terrorism
Language
eng
Abstract
This paper discusses key findings of the Detailed Assessment on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Republic of Latvia. The assessment reveals that aspects of Latvia’s financial services market expose it to a high risk of money laundering. There are welcome indications that money laundering risks have been reduced substantially owing to strong preventive measures being implemented by the authorities and financial institutions. The authorities and financial institutions are working to restore the international reputation of the Latvian financial sector
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Republic Of Latvia :
Nature of contents
dictionaries
Series statement
IMF Staff Country Reports
Sub title
Detailed Assessment Of Anti-Money Laundering And Combating The Financing Of Terrorism
Table Of Contents
Contents; Preface; I. Executive Summary; A. Legal Systems and Related Institutional Measures; B. Preventive Measures-Financial Institutions; C. Preventive Measures-Designated Nonfinancial Businesses and Professions and Nonprofit Organizations; D. Legal Persons and Arrangements; E. National and International Cooperation; II. General; Background information on Latvia; General Situation of Money Laundering and Financing of Terrorism; Financial services sector and DNFBPs in Latvia; Bureaux de Change; The BoL Regulation and Recommendation; DNFBPsOverview of commercial laws and mechanisms governing legal persons and arrangementsOverview of strategies to prevent ML and TF; Approach concerning risk; Progress since the last MONEYVAL mutual evaluation; Table 1. Detailed Assessment; Table 2. Ratings of Compliance with FATF Recommendations; Table 3: Recommended Action Plan to Improve the AML/CFT System; Authorities' Response to the Assessment; Annexes; 1. Details of all bodies met during the on-site mission; 2. Copies of Relevant extracts from key laws, regulations and other measures; 3. List of Principal Laws and Regulations
Classification
Content
Other version