MONEYVAL
Latvia’s AML/CFT system internationally recognised as overall effective
Latvia has received an international assessment confirming the country’s effectiveness in fighting financial crime, thus strengthening financial sector integrity and contributing to safety and security of international financial system. The leading AML/CFT evaluation highlights that Latvia has a robust, well-coordinated and highly effective system to combat money laundering, terrorism and proliferation financing.
On Thursday, 19 February, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL – published its report on the results of Latvia’s mutual evaluation.
The report highlights that Latvia achieved high or substantial levels of effectiveness in all Immediate Outcomes (IOs), except one. Overall, the findings recognize Latvia’s significant progress and its long-term commitment to fighting money laundering and terrorist and proliferation financing (AML/CFT/CPF).
The report recognizes the FIU Latvia as a highly effective institution and a global leader in international co-operation. Supported by secure and innovative co-ordination mechanisms, the FIU plays a central role in Latvia’s AML/CFT/CPF system by producing high-quality financial intelligence, leading national risk assessments, and enabling successful money laundering investigations through continuous strategic guidance, training, and inter-agency co-operation.
As previously reported, on 13 June 2025, the joint FATF/MONEYVAL Plenary concluded with the adoption of Latvia’s 6th round mutual evaluation report. Latvia is the first country to be assessed under the new round of evaluations in the FATF Global network. Latvia’s evaluation assessed the measures implemented and the results achieved during the period from 11 November 2017 to 15 November 2024.
Sixth Round Mutual Evaluation Report - Latvia
MONEYVAL Executive Summary Latvia
Media enquiries
Iveta Locāne
Head of the Communication Division
iveta.locane@fid.gov.lv
+371 26 273244
This is the leading international assessment in the field of AML/CFT/CPF, conducting ongoing peer reviews of each member to assess levels of implementation of the FATF Standards, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.
Mutual evaluation of Latvia assessed the effectiveness of the country’s AML/CFT/CPF measures, and their level of compliance with the FATF Standards, at the time of an on-site visit in November 2024. Latvia’s evaluation assessed the measures implemented and the results achieved during the period from 11 November 2017 to 15 November 2024.
- it affects the country’s reputation within the global financial system;
- it demonstrates how effectively a country prevents financial crime;
- it can either facilitate or hinder international transactions and investments;
- it reflects the ability of law enforcement authorities and the financial sector to cooperate;
- low effectiveness may result in increased monitoring (the “grey list”);
- if a country refuses to implement the standards, it is placed on the FATF blacklist, and FATF requires that enhanced due diligence be applied to clients from that country in accordance with the elevated risks it poses.
- ensured a comprehensive, data-driven approach to identifying and assessing ML/TF/PF risks;
- introduced effective cooperation and coordination mechanisms;
- strengthened the FIU Latvia’s analytical and technological capacity;
- Latvian authorities effectively identified and investigated money laundering cases, demonstrating a high level of professionalism and a targeted approach;
- Latvia prioritises asset recovery as a policy objective;
- the effectiveness of supervision of financial institutions has increased since the last evaluation, resulting in a significant reduction of risks in the most material sector, banking;
- Latvia has a robust legal and institutional framework ensuring timely implementation of targeted financial sanctions related to TF and PF.