Financial Intelligence Unit (FIU) Latvia

"Each new sanctions package pushes Russia to seek alternative trade routes and partners, often on less favourable terms," highlighted FIU Deputy Head Paulis Iljenkovs in a TV3 interview. 📌 Since the war began, the FIU has been received over 1,000 suspicious transaction reports of possible sanctions violations. 👉 Watch the full interview: https://lnkd.in/dj5JhT_j 💼 This week, the EU approved its 15th sanctions package against Russia. The new package includes sanctions targeting Russia’s “shadow fleet”, which is used to circumvent sanctions and causes environmental risks.

🌍 Exploring the complexities of national and international sanctions regimes, their implementation mechanisms, and practical strategies to counter evasion! The two-day event on sanctions implementation and enforcement, held on December 10–11, provided a comprehensive platform for discussing national and international sanctions frameworks. Opening remarks were delivered by Julia Jacoby, Charge d’Affaires at the United States Embassy in Riga, and Paulis Iljenkovs, Deputy Head of Latvia FIU. 💬 The agenda featured expert presentations from OFAC, Task Force KleptoCapture, FIU Latvia, and Chainalysis, complemented by interactive tabletop exercises and in-depth case studies. This gathering underscored best practices and challenges in sanctions implementation and asset management, fostering international collaboration and knowledge exchange. 👏 Thank you to all speakers and attendees for making this event impactful! #Sanctions #Implementation #FIU #InternationalCooperation

📅 This week, Latvia’s delegation, led by Toms Platacis, Head of the Financial Intelligence Unit (FIU) of Latvia, participated in the 68th plenary session of MONEYVAL (Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism of the Council of Europe). The Latvian delegation included representatives from the FIU (Paulis Iļjenkovs, Anna Jonikāne, and Dina Spūle), Finanšu ministrija/ Ministry of Finance of the Republic of Latvia (Daina Ispodkina), and Latvijas Banka (Kristine Černaja-Mežmale and Kristaps Markovskis). 📌 During this session, the mutual evaluation reports for Bosnia & Herzegovina and Guernsey were adopted, marking the completion of MONEYVAL's 5th evaluation round.  Looking ahead, Latvia is excited for the next plenary session in June 2025, which will be jointly organised with the FATF. This will be a historic moment for Latvia and the global AML/CFT community as Latvia's 6th round mutual evaluation report will be the first to be adopted in the new evaluation cycle – not only for MONEYVAL but for the entire FATF Global Network. 👏 Latvia is proud to lead the way into this new round and looks forward to showcasing the significant advancements made in strengthening its AML/CFT/CPF framework since its last evaluation in 2018. #MONEYVAL #AML #CFT #FinancialIntegrity #Latvia #GlobalStandards

📅 On Thursday, November 28th, the Head of FIU Latvia, Toms Platacis and Intars Krūmiņš, Head of the Strategic and Tactical Analysis Division at FIU Latvia, attended Pan-Baltic workshop dedicated to exploring the cross-border potential of #AMLR Article 75. 🌍 Held in Riga, this milestone event brought together delegations from Lithuania, Latvia, and Estonia, including representatives from FIUs, AML Supervisors, and leading figures from the financial sector. 🤝 FIU Latvia extends its gratitude to all participants, international experts, and supporters, as well as to Nick Maxwell for organizing this important gathering. 🚀 Together, we are building a stronger foundation for #PanBalticCooperation and advancing the fight against financial crime. 🌍 #FightingFinancialCrime #AMLR75 #AMLR75 #FFIS

🔎 Are sanctions being circumvented in Latvia? Deputy Head of the Financial Intelligence Unit, Paulis Iljenkovs, explains the current situation regarding sanctions. Recently, the media has widely discussed questions about sanctions circumvention and the increase in exports to Central Asia. In the interview, the FIU provided insights into the following topics: ➡️ Increase in exports to Central Asia: What is causing the rise in numbers? What goods are entrepreneurs exporting? ➡️ Circumvention of sanctions: Are sanctions being violated in Latvia? Facts and analysis. ➡️ Effectiveness of sanctions: What are the key factors for effective implementation of sanctions? 📺 Watch the full interview: https://lnkd.in/dHXHqxU3

📅 On November 26, 2024, Paulis Iljenkovs, Deputy Head of the Financial Intelligence Unit (FIU Latvia), and Roberts Dūdiņš, Head of the Second Financial Intelligence Division, participated in the Ministry of the Interior’s webinar, “International and National Sanctions”. 🔎 The webinar was dedicated for officials directing criminal proceedings, such as prosecutors and investigators, and gathered over 250 participants from key institutions, including Valsts ieņēmumu dienests, Valsts policija, State Border Guard, State Security Service, IeM Nodrošinājuma valsts aģentūra, Provision State Agency, Prosecution Office of the Republic of Latvia, and the Ministry of the Interior. 💡 During the webinar, attendees explored Latvia’s legal and institutional framework for international and national sanctions. The speakers provided detailed insights into the nature of targeted financial and sectoral sanctions, key implementation aspects, applicable exemptions, and the Financial Intelligence Unit’s critical role in identifying and preventing sanctions violations and circumvention. 🤝 This collaborative platform highlighted a shared commitment to strengthening compliance and enhancing the understanding of sanctions in Latvia. ❗ This FIU training material will also be available on the platform training.fid.gov.lv!

🚀 Exciting Announcement! 📢 5th Anniversary Nordic-Baltic AML Conference Day 2 kicks off with the opening session: GETTING READY FOR THE NEW EU AML AUTHORITY - AMLA! 🌐💼🚀 🗣️ We’re thrilled to introduce Marilin Pikaro, Director of Innovation, Conduct, and Consumers at the European Banking Authority (EBA), presenting the Keynote Speech: “EBA’s Contribution to the AMLA and New AML/CFT Regime” 💬 🗣️ Followed by a special keynote from Olivier Salles, Head of the AMLA Task Force, DG @FISMA, European Commission, on “Establishing the New AML Authority” 🏛️ 🎤 Marilin will also moderate a high-impact panel discussion on "AMLA's Key Tasks, Functions, and Enforcement Architecture." 🌍 Panelists include: Toms Platacis - Head of the Financial Intelligence Unit (FIU) Latvia 🇱🇻 Liisi Mets - Head of AML Department, Finantsinspektsioon / Financial Supervision and Resolution Authority FSA 🇪🇪 Olivier Salles - Head of the AMLA Task Force, DG FISMA, European Commission 🇪🇺 Miiko Vainer - Head of the AML Committee, Estonian Banking Association, SEB Bank 🇪🇪 🔍Panel Topics: 👉Key Provisions of the AMLA Regulation: Governance, independence, accountability, and competences. 👉Direct Supervision: Oversight of high-risk financial entities, ensuring compliance, and imposing sanctions. 👉Coordination and Oversight: Harmonizing national efforts, cross-border reviews, and joint analyses. 👉Non-Financial Sector Oversight: Reviewing standards, investigating breaches, and supporting national supervisors. 👉Support for FIUs: Providing tools for joint analyses, data assessment, and secure information sharing. 👉General Powers: Building a central AML/CFT database, developing standards, and offering guidance. 🌟 Don't miss this unique opportunity to dive deep into the new EU AMLA framework with top industry experts! 🌟 🔥 Agenda and incredible speaker lineup are live! 🗓️ Join us November 19-20, 2024, in Tallinn at the Swissôtel Tallinn Ballroom or tune in virtually via Wyzywebinar! 💻 ⏳ FINAL Discounted Prices Available Now 🔥 – secure your spot as spaces are filling up fast! 🚀 👉 Learn more and reserve your seat at www.amlconference.ee – don’t miss your chance to connect with the best in AML! #AMLConference #AMLA #AMLSupervision #AMLRegulation #FSA #FIU #AMLGovernance #AMLStandards #AMLRulebook #AML #CTF #PPP

📅 Today is an important day for everyone involved in the Latvian AML/CFT/CPF system – it is the first day of the two week long on-site visit of MONEYVAL Assessment Team in Latvia within Latvia’s 6th round evaluation. This is also a historic moment as Latvia is the first country to be assessed under the MONEYVAL and FATF Global Network new evaluation round. ❗ The day kicked - off with introductory remarks from Prime Minister of Latvia Mrs Evika Silina, the Prosecutor General Mr Juris Stukāns, the Governor of Latvijas Banka Mr Mārtiņš Kazāks and Deputy Executive Secretary of MONEYVAL Secretariat Andrew Le Brun. ✔️ Since the previous evaluation, Latvia has implemented major reforms addressing deficiencies identified by MONEYVAL and ensuring an effective work of AML/CFT/CPF system. The results of these reforms will be in the focus of this on-site visit. 📌 As a result of the assessment, Latvia will have a comprehensive and complete assessment of the effectiveness of its AML/CFT/CPF system. It is expected that Latvia's assessment report will be adopted at the joint MONEYVAL/FATF plenary meeting in June 2025 and made public at the end of 2025.

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