Banks, EU – Baltic States, Financial Services, Latvia, USA

He said that the US appreciate Latvia's attempts to strengthen its institutions and fight against money laundering and corruption, at the same time, it is not clear whether these reforms have been sufficient to avoid Moneyval's grey list.

"Honestly speaking, I don't know. I can assure, however, that the US will remain Latvia's partner in the fight against corruption and money laundering. Latvia has achieved much in the past year, implementing reforms and strengthening the responsible institutions, and I hope for further progress," he said.

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.

Moneyval plenary session in Strassbourg this week will review Latvia's progress report on implementation of the recommendations. The official conclusion of experts could be released on December 6.