Priority areas for training and increased qualification of financial sector employees are the development of banks, technologies, provision of investment services, compliance and prevention of financial crimes and internal audit training.

In order to provide high-quality training in the above-mentioned areas, Association is cooperating with local and international partners, which have gathered significant experience and expertise on the current situation in Latvia as well as the latest global trends.

Workshop “Identification of Terrorist Financing Risks, and Better Understanding of Systemic Vulnerabilities”

Finance Latvia Association together with the FIU Latvia invite all industry professionals having compliance responsibility to identify suspicious activity to participate in the Workshop “Identification of Terrorist Financing Risks, and Better Understanding of Systemic Vulnerabilities”.

The Workshop will take place at Riga Business School, Skolas iela 11, Via Finance Auditorium (2nd floor) on January 16 from 1 until 5 p.m.

Latvia’s most recent Moneyval evaluation report (July 2018) pointed out an absence of a robust terrorist financing risk assessment as a major deficiency in Latvia’s effective efforts to prevent and combat terrorist financing. Nature and implications of terrorism are ever-changing, hence, constantly posing new “unknown-unknowns” to entities obliged to identify such risks - a source of a great concern to Latvian law enforcement community and financial industry.

The aim of the Workshop is threefold:

  1. Gaining a more thorough understanding of the Latvia’s most recent Moneyval evaluation report, in particular regarding terrorist financing and its implications.
  2. Offer expertise in identifying alerting mechanisms that financial institutions can use to discover and pinpoint risks of terrorist financing.
  3. Deeper analysis of vulnerabilities of financial institutions and other obliged entities regarding financing of terrorism.

Guest lecturers:

  • Mr. Yehuda Shaffer
    Yehuda is a legal and law enforcement expert with 30 years of experience in the investigation and prosecution of financial crime and confiscation of assets. Until 2018, Yehuda served as Israel’s Deputy State Attorney for financial crime and founded and headed the Israeli financial intelligence unit. Yehuda has participated in numerous IMF and MONEYVAL led country assessments against the Financial Action Task Force (FATF) Recommendations, and has delivered AML/CFT focused technical assistance projects to authorities and governments around the world.
  • Mr. Stefan Cassella
    Self-employed consultant to state, federal and foreign law enforcement agencies, financial institutions, non-government organizations, and private law firms. Extensive experience with providing training and legal advice on asset recovery and anti-money laundering matters.

The Latvia’s Moneyval has mentioned the absence of a robust terrorist financing risk assessment as a major deficiency in Latvia’s effective efforts to prevent and combat terrorist financing. The landscape of terrorism is ever-changing and constantly threatening. Latvian law enforcement community and financial industry are very concerned and are aware about the threat originated by terrorists to innocent people.


The best way to prevent terrorism is to disrupt their ability to raise and access funding. A timely and due identification of terrorist financing is one of the most challenging and demanding tasks facing the financial institutions as well as other obliged entities. This interactive half day long workshop will focus on FATF recommendations and IO regarding terrorist financing; their actual implementation, aspects of Latvia’s Moneyval report regarding terrorist financing and its implications as well as current and emerging terrorist threats and detection mechanisms that Latvian financial institutions and other obliged entities can use to identify and report suspicious activity related to terrorism.

Key topics:

  • Background of the global TF threats;
  • FATF recommendations and IO regarding TF and their actual implementation (criminalization - r.5 IO9, asset freezing - r.6 IO10);
  • Latvia’s Moneyval report regarding TF - and its implications;
  • TF Red flags and practical issues for compliance officers.

Who Should Attend

All levels officers of the financial institutions and other obliged entities having compliance responsibility to identify suspicious activity that likely involves terrorists or the criminals they associate with.

Important notice

Please note that due to the limited space capacity this workshop is primarily intended for the representatives of the members of the Finance Latvia Association, financial institutions licensed by the FCMC and representatives of Latvian self-governing professional organizations (attorneys at law, notaries-public, and accountants)

Participation fee

Finance Latvia Association members
80 EUR

Non-members
150 EUR

Working language is English

Credits

Participants will receive a certificate of attendance.

Registration has ended

Only registered and confirmed participants will be able to attend.

 

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Members

Associate members