Latvia avoids being placed on international money-laundering "gray list"

The decision by the international body the Financial Action Task Force (FATF) was taken at its plenary session in Paris and was revealed by the Latvian government. A notice on its website said:

"Latvia has set up a strong and robust financial crime prevention system and will not be subject to 'enhanced surveillance' or 'gray listing'." Read more: https://eng.lsm.lv/article/economy/banks/latvia-avoids-being-placed-on-international-money-laundering-gray-list.a349027/

“The ambitious work on adjusting the regulation of financial sector, as well as its supervision and control, has paid off! The decision not to be the subject to enhanced supervision will serve as an incentive for us to continue our work aimed at economic development and supporting business. Credit institutions are provided with all the prerequisites to continue to work with a clear awareness of specific risks for Latvia and to contribute to the growth of our country,” says Jānis Reirs, Minister of Finance. Read More: https://www.fm.gov.lv/en/news/61714-minister-janis-reirs-the-hard-work-to-reorganize-the-financial-sector-has-paid-off?fbclid=IwAR2p3OwY-VLlCBkerLaWUhh1rqrb7LFV0EuZS_sYPhGAmYzpbwkKHdRUzUU