The Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval) has re-rated Latvia on eleven recommendations, according to Moneyval’s latest report.
Moneyval now considers that Latvia is largely compliant with Moneyval recommendations in areas such as targeted financial sanctions related to terrorism and terrorist financing, targeted financial sanctions related to proliferation, non-profit organizations, customer due diligence, customer due diligence in designated non-financial businesses and professions, regulation and supervision of financial institutions, regulation and supervision of designated non-financial businesses and professions, cash couriers, extradition and other forms of international cooperation.
As reported, Moneyval has placed Latvia in enhanced follow-up procedure.
Moneyval plenary reviewed Latvia’s progress report on implementation of the recommendations last December in Strasbourg.
