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Introducing a recommendation of Moneyval, namely, to improve the understanding and application of the legislation on the identification and compliance control of the beneficial owner (hereinafter – the BO) to the participants of the financial and capital markets the Financial and Capital Market Commission (FCMC) carried out an examination of internal documentation developed by 15 banks and five branches of Member States' banks operating in the Republic of Latvia and compiled information on the procedures specified by the banks under which they carry out the identification of the BO and verification of compliance of identified beneficiary.

Pēters Putniņš: "Risk mitigation measures have shifted the focus of banking business. We managed to bring it off. This is a historic turn, and there is no more reason to talk about the free flow of high-risk foreign money in our system. Domestic and EU deposits have reached 91%."