Republic of Latvia [electronic resource] : Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism.

International Monetary Fund
Washington, D.C. : International Monetary Fund, 2007.
IMF eLibrary
IMF Staff Country Reports; Country Report No. 07/189.
IMF Staff Country Reports; Country Report No. 07/189
Government document
1 online resource (287 p.)
Local subjects:
Account files.
Account number.
Account opening.
Adequate powers.
Administrative liability.
Administrative sanctions.
Anonymous accounts.
Antique dealers.
Appropriate compliance management arrangements.
Assessing compliance.
Assessment findings.
Assessment methodology.
Asset forfeiture fund.
Audit function.
Banking relationships.
Beneficial owners.
Beneficial ownership.
Business relations.
Business relationships.
Cash transaction.
Cash transactions.
Civil forfeiture.
Combat money laundering.
Combating money.
Combating money laundering.
Combating the financing of terrorism.
Common law jurisdictions.
Competent authorities.
Complete originator information.
Compliance management arrangements.
Compliance officer.
Conducting investigations.
Confidentiality requirements.
Confiscated assets.
Confiscation of property.
Control information.
Control structure.
Correspondent bank.
Crime prevention.
Criminal activities.
Criminal activity.
Criminal acts.
Criminal case.
Criminal group.
Criminal investigation.
Criminal investigations.
Criminal law.
Criminal liability.
Criminal matters.
Criminal offence.
Criminal proceeds.
Criminal process.
Criminal prosecution.
Criminal records.
Criminal sanctions.
Cross border transportation.
Customer accounts.
Customer files.
Customer identification.
Customer identification procedures.
Customer identification requirements.
Detecting terrorist financing.
Disciplinary proceedings.
Drug trafficking.
Dual criminality.
Due diligence.
Due diligence measures.
Due diligence procedures.
Due diligence requirements.
Due regard.
Electronic money.
Enforcement authorities.
Enforcement powers.
Ensuring compliance.
Evidence gathering.
Exchange information.
Extraditable offence.
Extradition requests.
Factual circumstances.
False information.
Financial crimes.
Financial institutions.
Financial intelligence unit.
Financial intelligence units.
Financial investigations.
Financial investigators.
Financial records.
Financial secrecy.
Financial sector.
Foreign banks.
Foreign branches.
Foreign counterparts.
Funds transfers.
Good faith.
Identification data.
Identification obligations.
Identification procedures.
Identity documents.
Illegal activity.
Illegal proceeds.
Independent source documents.
Information exchange.
Insurance business.
Insurance contract.
Insurance intermediaries.
Insurance policies.
Internal audit.
Internal control procedures.
Internal control systems.
Internal controls.
Internal policies.
Internal procedures.
International cooperation.
International law.
International standards.
Investigative agencies.
Investigative technique.
Investigative techniques.
Judicial authorities.
Know your customer.
Laundering activities.
Laundering money.
Laundering trends.
Law enforcement.
Law enforcement agencies.
Law enforcement authorities.
Law enforcement information.
Law enforcement measures.
Lawful purpose.
Legal arrangements.
Legal assistance.
Legal assistance requests.
Legal entities.
Legal entity.
Legal liability.
License holder.
Licensing requirements.
Life insurance.
Market participants.
Meaningful originator information.
Monetary union.
Money launderers.
Money laundering.
Money laundering activities.
Money laundering cases.
Money laundering investigations.
Money laundering offence.
Money laundering purposes.
Money laundering risks.
Money management.
Money orders.
Money remittance.
Mutual evaluation.
National legislation.
Negotiable instruments.
Noncooperative countries.
Organized crime.
Payment chain.
Payment system.
Payment systems.
Precious metals.
Precious stones.
Predicate crime.
Predicate crimes.
Predicate offence.
Predicate offences.
Professional secrecy.
Property rights.
Prudential supervision.
Pyramid schemes.
Regulatory authority.
Regulatory requirements.
Reinsurance companies.
Reporting obligations.
Reporting requirements.
Reputational risk.
Reputational risks.
Risk accounts.
Risk categories.
Risk customers.
Risk management.
Risk management systems.
Secrecy laws.
Secrecy provisions.
Secure techniques.
Share capital.
Shell bank.
Shell banks.
Shell companies.
Supervisory agencies.
Supervisory authorities.
Supervisory authority.
Supervisory bodies.
Supervisory regime.
Suspect money laundering.
Suspected money laundering.
Suspicious activities.
Suspicious activity.
Suspicious transaction.
Suspicious transaction report.
Suspicious transaction reporting.
Suspicious transaction reports.
Suspicious transactions.
Suspicious transactions reporting.
Tax evasion.
Tax matters.
Technical resources.
Terrorism financing.
Terrorism offence.
Terrorist activities.
Terrorist acts.
Terrorist assets.
Terrorist financing.
Terrorist financing cases.
Terrorist financing measures.
Terrorist financing purposes.
Terrorist organizations.
Transaction records.
Transaction reporting.
Transaction reports.
Trust service providers.
Underlying predicate offences.
Unusual transaction reports.
Unusual transactions.
Value transfer.
Wire transfer.
United States.
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.
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