Latvia confirms its intention to apply to host the new European Union (EU) agency, the European Anti-Money Laundering Authority (AMLA). The candidacy is an important contribution to strengthening the country’s image and reputation, positioning Latvia as a safe investment and sustainable economic destination, and demonstrates Latvia’s capacity and readiness to host a major EU agency and ensure its functionality and adequate infrastructure.
Latvia has extensive and internationally recognised experience in the fight against money laundering and terrorism financing. The possibility of hosting an agency of this level in Riga would strengthen Latvia’s status as a European centre of competence in the field of the prevention of money laundering and terrorism and proliferation financing.
Historically, as the largest city in the Baltics, Riga is an important trade link by the Baltic Sea. Today, innovative IT tools, cybersecurity solutions and an effective regulatory framework are at the forefront.
A quality Latvian start in the AMLA host selection process will strengthen Latvia’s image as an active and serious cooperation partner. It will also ensure that Latvia’s attractiveness to investors is enhanced and support the plans of governments, municipalities and businesses to develop and modernise general and service infrastructure that will benefit a wide range of citizens and employees.
This is an excellent opportunity for Latvia to receive well-deserved recognition for the work of all parties in the “overhaul” of the financial sector, as well as the dedicated and competent work of supervisors and law enforcement agencies to protect the public, businesses and Latvia’s economy and reputation from the consequences of fraudulent or criminal behaviour.
More about the project “Latvia – Future Home for AMLA”.