Latvian officials are hoping that a year of legislative hard work will pay off as the Baltic state faces a MONEYVAL review of its efforts to combat financial crime in the country.
Last summer MONEYVAL, which assesses EU member states’ compliance with international anti-money laundering (AML) and counter-terrorist financing (CTF) standards, identified numerous shortcomings in Latvia’s crime-fighting regime.
The country’s authorities have spent the intervening time polishing its AML/CTF systems and controls, and on Friday the Ministry of Finance submitted a technical report to MONEYVAL detailing its achievements.
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