Republic of Latvia: Report on the Observance of Standards and Codes on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2007/188, IMF Staff Country Reports from International Monetary Fund

Abstract: This report reviews the Observance of Standards and Codes on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Republic of Latvia. Latvia has taken strong measures in recent years, through legislative amendments and improvements in implementation, to address deficiencies in its AML/CFT framework and move closer to compliance with the Financial Action Task Force (FATF) Recommendations. Most of the necessary AML/CFT institutions and legal framework are now in place, although coverage of some designated nonfinancial businesses and professions (DNFBPs) is not yet complete.

Keywords: ISCR; CR; AML Law; CFT risk; CFT requirement; CFT measure; CFT deficiency; CFT compliance; CFT authority; Anti-money laundering and combating the financing of terrorism (AML/CFT); Terrorism financing; Legal support in revenue administration; Money laundering; Correspondent banking; Western Europe (search for similar items in EconPapers)
Pages: 19
Date: 2007-06-04
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