FSDB meeting informs about Moneyval's current developments and work to be done

On Thursday, September 5, a meeting of the Financial Sector Development Board (FSDB), chaired by Latvian Prime Minister Evika Siliņa, was held. The FSDB is the highest policy body in Latvia related to AML/CFT/CPF, headed by the Prime Minister and comprising relevant Ministers and Heads of responsible institutions. During the meeting, the Financial Intelligence Unit of Latvia (FIU) reported on the highlights of the 6th round of assessments by the Council of Europe's Committee of Experts (Moneyval) on the prevention of money laundering and terrorist financing, and the work to be carried out in the future. Additionally, the meeting discussed the practical application of proportionate requirements for the prevention of money laundering and terrorism and proliferation financing, as well as the progress of implementing the de-risking mitigation strategy. The implementation of measures included in the proposals for further action from the informative report "Credit Development Trends and Factors Hindering Lending in Latvia" was also reviewed.