Public-private partnership

One of the tasks of the Financial Intelligence Unit of Latvia is operating a private and public cooperation coordination group whose purpose is to coordinate the activities of performing operational activities, investigating authorities, the State Revenue Service, the Office of Prosecutor (involved institutions), obliged entities, and supervisory and control authorities. 

The meetings of the Cooperation Coordination Group shall be convened by the Financial Intelligence Unit of Latvia on its own initiative, according to the proposal of the involved institution, or at the motivated request of the obliged entity or supervisory and control authorities, evaluating the necessity of the Cooperation Coordination Group meeting.

During its meetings, the Cooperation Coordination Group discusses matters associated with the effective prevention or investigation of specific crimes, and strategic issues.

During feedback sessions, the Financial Intelligence Unit of Latvia and obliged entities discuss the quality of the submitted reports and analyse the technical shortcomings and other deficiencies found in the reports. These sessions are also used to discuss matters whose purpose is to support the effective fulfilment of legal duties by the parties involved. The sessions cover any questions pertaining to the interpretation of laws and regulations, the institutional authority in investigating criminal offences, security of circulation of information, preparation of money laundering, terrorism and proliferation risk assessments etc. 

The provision of information to the Financial Intelligence Unit of Latvia as part of sharing of information during the meetings of the Cooperation Coordination Group does not constitute the disclosure of non-disclosable information, which is why the reporting entities, as well as their management (council and board members) and employees do not incur any legal and/or civil liability by doing so. Sharing of information during the meetings of the Cooperation Coordination Group does not affect the duty of the reporting entities to report any and all suspicious transactions to the Financial Intelligence Unit of Latvia.

Since 2018, the Cooperation Coordination Group meetings have been held regularly and the Cooperation Coordination Group has proven itself as an effective, reliable and value-creating inter-institutional cooperation and public-private partnership platform.

Within the Cooperation Coordination Group, the specialized working groups including largest credit institutions of Latvia developed the documents "Indicators of corruption and case analysis" and " Indicators of Russia-Related Sanctions Evasion", which are available in the section "Strategic analysis and guidelines".

Operational scheme of the Cooperation Coordination Group

Regulation on the Operation of the Cooperation Coordination Group of the Financial Intelligence Unit