Legal acts in the AML/CFT area

  • Section:
AML/CFT Laws/ Regulations Link to legal act Binding to
Law On the Prevention of Money Laundering and Terrorism Financing

 

 

 

 

 

https://likumi.lv/ta/en/en/id/178987-law-on-the-prevention-of-money-laundering-and-terrorism-and-proliferation-financing Banks;

Foreign bank branches;

Securities (Investment brokerage companies (investment firms), Investment management companies);

Life Insurances (Life insurance companies, Life insurance intermediaries, Reinsurance companies);

Money service businesses (Payment institutions,Electronic money institutions);

Private pension funds;

Credit unions;

Alternative investment funds managers.

Law On the Financial and Capital Market Commission https://likumi.lv/ta/en/id/8172-law-on-the-financial-and-capital-market-commission
FCMC Recommendations for banks and financial institutions to establish and research politically exposed persons, their family members, and closely-related persons and to monitor transactions https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/recommendations-for-credit-institutions-and-financial-institutions-to-establish-and-research-politically-exposed-persons-their-family-members-and-closely-related-persons-and-to-monitor-transactions/

 

FCMC Recommendations to Credit Institutions for Determining the Source of Customer Funds and Wealth https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/recommendations-to-credit-institutions-for-determining-the-source-of-customer-funds-and-wealth Banks;

Foreign bank branches.

FCMC Recommendations for non-face-to-face customer identification https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/recommendations-for-non-face-to-face-customer-identification/ Banks;

Foreign bank branches.

FCMC Regulations for Cooperation with Third Parties and Requirements for Business Relations with the Customers whose Identification or Due Diligence is  Performed Using Third Party’s Services https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-for-cooperation-with-third-parties-and-requirements-for-business-relations-with-the-customers-whose-identification-or-due-diligence-is-performed-using-third-partys-services/ Banks;

Foreign bank branches;

Payment institutions;

Electronic money institutions.

FCMC Regulations on the Collection of Information on Customers of a Credit Institution and Their Transactions, and Submission of the Information to the Financial and Capital Market Commission https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-on-the-collection-of-information-on-customers-of-a-credit-institution-and-their-transactions-and-submission-of-the-information-to-the-financial-and-capital-market-commission/ Banks;

Foreign bank branches.

FCMC Regulations regarding Provision of Staff Resources and Staff Training for Money Laundering and Terrorist Financing Risk Management https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-regarding-provision-of-staff-resources-and-staff-training-for-money-laundering-and-terrorist-financing-risk-management/ Banks;

Foreign bank branches.

FCMC Regulations regarding Provision of Information Technology for Money Laundering and Terrorist Financing Risk Management https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-regarding-provision-of-information-technology-for-money-laundering-and-terrorist-financing-risk-management/ Banks;

Foreign bank branches.

FCMC Regulations regarding Due diligence and transaction monitoring of providers of payment services https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/fcmc-regulations-regarding-due-diligence-and-transaction-monitoring-of-providers-of-payment-services-available-in-latvian/

 

(available in Latvian)

Banks;

Foreign bank branches;

Licensed payment institutions and electronic money institutions;

Foreign payment institutions’ and electronic money institutions’ branches.

FCMC Regulations regarding establishment and maintenance of credit institutions  correspondent relations https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/fcmc-regulations-regarding-establishment-and-maintenance-of-credit-institutions-correspondent-relations-available-in-latvian/

 

(available in Latvian)

Banks;

Foreign bank branches.

 

Recommendations to credit institutions and licensed payment and electronic money institutions to reduce the risks associated with the failure to comply with sanctions https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/recommendations-to-credit-institutions-and-licensed-payment-and-electronic-money-institutions-to-reduce-the-risks-associated-with-the-failure-to-comply-with-sanctions-2/ Banks;

Foreign bank branches;

Licensed payment institutions and electronic money institutions;

Foreign payment institutions’ and electronic money institutions’ branches.

FCMC Money Laundering and Terrorist Financing Risk Management Regulations https://likumi.lv/ta/en/en/id/304175-regulatory-provisions-for-the-money-laundering-and-terrorism-financing-risk-management Banks
Regulations on the Establishment of Customer Due Diligence, Enhanced Customer Due Diligence and Risk Scoring System (Effective from 01.12.2019) https://www.fktk.lv/en/law/general/fcmc-regulations/regulations-on-the-establishment-of-customer-due-diligence-enhanced-customer-due-diligence-and-risk-scoring-system Banks;

Foreign bank branches;

Securities (Investment brokerage companies (investment firms), investment management companies);

Life Insurances (Life insurance companies, Life insurance intermediaries, Reinsurance companies);

Money service businesses;

Payment institutions;

Electronic money institutions), Private pension funds;

Credit unions;

Alternative investment funds managers.

Regulations on Conducting an Independent Assessment of an Internal Control System for the Prevention of Money Laundering and Terrorism and Proliferation Financing

 

https://www.fktk.lv/en/law/general/fcmc-regulations/regulations-on-conducting-an-independent-assessment-of-an-internal-control-system-for-the-prevention-of-money-laundering-and-terrorism-and-proliferation-financing/ Credit institutions;

Licensed payment and electronic money institutions and credit institutions;

Licensed payment and electronic money institutions of branches.

Regulations on sanctions risk management

 

https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-on-sanctions-risk-management Credit institutions;

Payment institutions and electronic money institutions;

Private pension funds, investment firms;

Investment management companies;

Alternative investment fund managers;

Insurance undertakings in so far as they carry on life assurance or other activities related to funding accumulation;

Insurance intermediaries in so far as they carry on life assurance or other services related to funding accumulation;

Reinsurance service providers and branches of all of the stated subjects.

Regulations on sanctions risk management

 

https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-on-sanctions-risk-management Credit institutions;

Payment institutions and electronic money institutions;

Private pension funds, investment firms;

Investment management companies;

Alternative investment fund managers;

Insurance undertakings in so far as they carry on life assurance or other activities related to funding accumulation;

Insurance intermediaries in so far as they carry on life assurance or other services related to funding accumulation;

Reinsurance service providers and branches of all of the stated subjects.

Regulations on sanctions risk management

 

https://www.fktk.lv/en/law/credit-institutions/fcmc-regulations-en/regulations-on-sanctions-risk-management Credit institutions;

Payment institutions and electronic money institutions;

Private pension funds, investment firms;

Investment management companies;

Alternative investment fund managers;

Insurance undertakings in so far as they carry on life assurance or other activities related to funding accumulation;

Insurance intermediaries in so far as they carry on life assurance or other services related to funding accumulation;

Reinsurance service providers and branches of all of the stated subjects.

Recommendations for the Establishment of the Internal Control System for Anti-Money Laundering and Countering Terrorism and Proliferation Financing and Sanctions Risk Management, and for Customer Due Diligence https://www.fktk.lv/en/law/general/fcmc-guidelines-and-recommendations/recommendations-for-the-establishment-of-the-internal-control-system-for-anti-money-laundering-and-countering-terrorism-and-proliferation-financing-and-sanctions-risk-management-and-for-customer-due-diligence/ Banks;
Foreign bank branches;
Securities (Investment brokerage companies (investment firms), investment management companies);
Life Insurances (Life insurance companies, Life insurance intermediaries, Reinsurance companies);
Money service businesses;
Payment institutions;
Electronic money institutions), Private pension funds;
Credit unions;
Alternative investment funds managers.

Contacts


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Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
Previous sign-in to the secretary:
67 774 801
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