IMF Staff Country Reports

Republic of Latvia: Report on the Observance of Standards and Codes on Anti-Money Laundering and Combating the Financing of Terrorism

Publication Date:

June 4, 2007

Electronic Access:

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Summary:

This report reviews the Observance of Standards and Codes on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Republic of Latvia. Latvia has taken strong measures in recent years, through legislative amendments and improvements in implementation, to address deficiencies in its AML/CFT framework and move closer to compliance with the Financial Action Task Force (FATF) Recommendations. Most of the necessary AML/CFT institutions and legal framework are now in place, although coverage of some designated nonfinancial businesses and professions (DNFBPs) is not yet complete.

Series:

Country Report No. 2007/188

Subject:

Anti-money laundering and combating the financing of terrorism (AML/CFT) Correspondent banking Crime Financial services Legal support in revenue administration Money laundering Revenue administration Terrorism financing