Our solutions for Latvia
PEP Check
Access our comprehensive data sets, which have been compiled from over 20,000 government sources, allowing you to identify politically exposed persons and their close associates
Sanctions Check
Screen against thousands of government regulatory and law enforcement watchlists, and over 100 International and National Sanctions lists that are updated daily.
Adverse Media Check
AI-driven analysis of negative news associated with money laundering and financial crime enhances due diligence efforts in line with the latest AML compliance requirements.
Know Your Business Check
Identify the relationships between individuals and business entities with our Know Your Business (KYB) solution.
AML Consulting Service
Consult with our experienced, accredited advisers to examine your business's inherent risk and AML program and receive suggestions on ways in which you can improve your current controls.
Want to know more about our solutions?
Request a demoLatvia’s AML/CTF supervisors
The Latvian FIU, officially known as the Office for the Prevention of Laundering of Proceeds Derived from Criminal Activity, was established by law in June 1998. Before providing information on irregular and suspicious transactions to pre-trial investigators and the court, the Latvian FIU gathers, records, processes, combines, preserves, and conducts analysis on the information.
How do you comply with AML/CTF regulations in Latvia?
The Republic of Latvia started drafting anti-money laundering legislation in 1997. In a series of anti-money laundering regulations that went into effect in January 2009, the Law on the Prevention of Money Laundering and Terrorist Financing received many modifications.
The focus of Latvian authorities is on guaranteeing the careful monitoring and evaluation of the efficacy of the new legal and regulatory framework, as well as its robust implementation and application.
The following normative measures were adopted by the government in support of the new anti-money laundering law.
List of Suspicious Transactions Indicators and Reporting Procedure for Suspicious and Unusual Transactions
Information exchange between regional government organisations for the prevention of criminal proceeds
Establishment and keeping of lists of people suspected of involvement in terrorism maintained by national and international organisations
Coordinating with emerging countries and imposing the same AML/CFT regulations as those imposed by the European Union
How can NameScan help?
We offer our clients a secure and user-friendly solution for scanning politically exposed or high-risk individuals. We also cross-reference names against official lists, including sanctions, regulatory, law enforcement, and other relevant databases. This comprehensive approach aims to minimise your risk and establish digital trust.
Make the most of our advanced scan filters and rigorous due diligence process to significantly reduce false matches and save valuable time. Our in-depth reporting features provide quick and easy access to client information. You can download customised reports for further analysis or to demonstrate compliance with your AML program during audits.