2024-06-19
Financial Integrity Newsletter – June edition
Simplified reporting procedure for non-financial sector
05.01.2024
One of the strategic objectives of the Financial Intelligence Unit of Latvia (FIU Latvia) is to increase the number and quality of reports received. To achieve this objective, one of the priorities in 2024 will be to reach out to the non-financial sector obliged entities with the aim of facilitating the submission of suspicious activity reports and promoting a common understanding of the early detection of potential criminal offences.
FIU Latvia sees several ways to facilitate reporting. Firstly, simplifying the format of the report by tailoring it to a specific sector. Second, training platforms, both online and in person, where we will inform the obliged entities about the requirements for filing a report, as well as demonstrate practical examples, discuss good practices and common mistakes and shortcomings. In addition, FIU Latvia intends to explain the issues related to the protection of the identity of the reporter.
More information on the reporting facilitation and the training plan will be available on the website of the FIU Latvia, as well as from the supervisory and control authorities of the non-financial sector.
2024-06-07
FIU Latvia and Latvijas Banka implement knowledge development activities under an EEA grant project