EU – Baltic States, Financial Services, Latvia, Legislation
International Internet Magazine. Baltic States news & analytics
Saturday, 20.04.2024, 04:31
Latvia will not be ready to meet all Moneyval recommendations in due time – Znotina
BC, Riga, 17.01.2019.
Print version
Print versionLatvia will not be able to meet all recommendations of the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval) in due time, said Ilze Znotina, the head of the Latvian Office for Prevention of Laundering of Proceeds Derived from Criminal Activity (also called the Control Service), citing LETA.
 |
|---|
According to Znotina, Latvia will not comply with all Moneyval recommendations in due time, still, Latvia should identify the risky areas and have an action plan ready for the nearest years.
She said that if Latvia is not able to admit its problems and the fact that Latvia has caused these problems itself, the country will not win appreciation of international partner.
As reported, Moneyval has placed Latvia in enhanced follow-up procedure because of the number of Low and Moderate ratings awarded for Effectiveness. Two areas were considered to have low levels of effectiveness - relevant beneficial ownership information and preventing proliferation financing.
«The Baltic Course» Is Sold and Stays in Business!
