2024-11-20
MONEYVAL 6th round evaluation visit to Latvia
The latest FIU newsletter informs about preparation for the 6th Moneyval evaluation round
16.01.2024
For the past five years, Latvia has diligently implemented the recommendations received in the previous Moneyval evaluation round. In December 2023, Latvia received the long-expected news: in the new round of evaluation, we'll be the first to be assessed. Dina Spūle, Head of Strategic Development and Communications at FIU Latvia, believes Latvia has made the right decision by volunteering to be the first. However, she points out: “We have two intense years of work ahead of us.”
Along with Moneyval news, in October 2023, research center SKDS surveyed the inhabitants of Latvia on financial crime and money laundering. The survey covered 1005 respondents aged between 18 and 75 years, with different demographic characteristics.
The survey shows that on average 74% of all respondents believe that there is a need to tackle financial crime, but at the same time tolerance towards financial crime and money laundering has also increased: while in 2022 around 32% would buy illegal excise goods if necessary, knowing their illegal origin, in 2023 40% of respondents said they would do so. Tolerance to tax evasion and bribery has also increased.
Also, in the Financial Integrity Newsletter No. 4 learn that Taxpayer Rating System goes public to improve transparency and discipline, FIU Latvia improves reporting of suspicious transactions, the Corruption Prevention and Combating Bureau of Latvia (KNAB) and "Transparency International LATVIA" ("Sabiedrība par atklātību – Delna") hosted a conference "Corruption – a Threat to National and Global Security" and take a look into the key takeaways from the FIU Latvia conference “Future of AML”.
More details are available: The Financial Intelligence Unit's latest newsletter
2024-10-29
FATF has updated lists with jurisdictions under Increased Monitoring