Designating FIU as authority in charge of international sanctions enforcement was the right decision - PM

RIGA - Designating Financial Intelligence Unit Latvia (FIU Latvia) as the competent authority in charge of international sanctions enforcement in Latvia was the right decision,  Prime Minister Evika Silina (New Unity) concluded while meeting with FIU chief Toms Platacis on Friday. 

As the prime minister's spokesman Aleksis Zoldners told LETA, during the working meeting,  the officials discussed Latvian authorities' work on the 6th round of evaluation by Moneyval, or the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism.

Zoldners noted that Latvia is the first country to be assessed by Moneyval, the Financial Action Task Force (FATF) and the Global Network in the new round of assessments. The assessment process started earlier this year and the assessment is expected to be published in the second half of 2025.

The prime minister's spokesman also revealed that during the meeting the FIU's performance in the area of sanctions was discussed - on April 1 this year, the FIU became the competent authority for sanctions enforcement in Latvia. Looking back at the first months in the new status, it was concluded that this decision has been the right one - communication with the public, business and business partners has been simplified, and common procedures and standards have been introduced, Zoldners said.