MONEYVAL’s 6th Mutual Evaluation Report praises Latvia’s progress on ML/TF, noting strong banking oversight and an effective FIU, while urging tighter non-financial oversight & faster asset recovery

In it’s Report, MONEYVAL recognises that Latvia has made notable advances in legal reforms, risk understanding and implementation of anti-money-laundering, counter-terrorist-financing and counter-proliferation-financing measures. However, it highlights the need to enhance supervision and risk-based controls in specific non-financial sectors to ensure consistent and effective application of the AML/CFT/CNPJ framework…