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Combating money laundering and the financing of terrorism in Latvia
Combating money laundering and the financing of terrorism in Latvia
March 2019

Every country has a duty to combat money laundering and to prevent terrorist financing or any other threats that can compromise the integrity of the international financial system. A robust and resilient anti-money laundering and combating of terrorism financing (AML/CFT) regime is the first step towards being able to implement effective legal, regulatory and operational measures.

 

This document describes recommendations made by the OECD in relation to Latvia’s efforts to strengthen its AML/CFT supervisory and control systems.

Key information
Latvia should produce statistics showing the numbers of Latvian limited liability companies which have had their beneficial ownership assessed and recorded in the Enterprise Registry
Latvia should apply sanction financial institutions and designated non-financial businesses and professions who fail or duly perform customer due diligence
Latvia should collect statistics showing that beneficial ownership information has been regularly updated in the Enterprise Registry in accordance with anti-money laundering laws