Methodological material on money laundering typologies and indications has been updated

The methodological material has been developed with the aim mostly to facilitate a uniform understanding of law enforcement authorities, prosecutor’s office and courts about indicators of suspicious transactions and criminal activities. 

The identification of ML typologies provides a comprehensive study of the ML methods, approaches, schemes and instruments to understand the ML environment, both internationally and nationally. Identification of typologies is an effective tool in combating financial crimes that allows to understand methods used by criminals to conceal, mask, or move funds obtained by criminal activities. Identification of typologies and indicators in transactions ensures a valid assumption for suspicion on ML.

The material summarises the current ML typologies and indications that are typical of ML schemes implemented in Latvia (or using the Latvian financial system). The methodological material comprises the typologies and indications of ML identified by the FIU Latvia and law enforcement authorities, based on the information and conclusions gained from the practice of similar foreign financial intelligence units and other competent authorities, as well as international ML and terrorism financing prevention institutions.

The 2nd revised edition of the material “Typologies and indicators of ML” is available on the website of the FIU Latvia – “Areas of Activity” section – sub-section “Guidelines, Typologies, Tools”.