Republic Of Latvia: Detailed Assessment Of Anti-Money Laundering And Combating The Financing Of Terrorism

International Monetary Fund

No 2007/189, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Detailed Assessment on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Republic of Latvia. The assessment reveals that aspects of Latvia’s financial services market expose it to a high risk of money laundering. There are welcome indications that money laundering risks have been reduced substantially owing to strong preventive measures being implemented by the authorities and financial institutions. The authorities and financial institutions are working to restore the international reputation of the Latvian financial sector.

Keywords: ISCR; CR; applicable sentence; criminal offence; confiscation of property; paragraph two; AML law; information regarding resource possession; Anti-money laundering and combating the financing of terrorism (AML/CFT); Terrorism financing; Money laundering; Internal controls; Baltics; Europe (search for similar items in EconPapers)
Pages: 287
Date: 2007-06-04
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