Economic security becomes a field of increasing attention of Latvian State Security Service (VDD) due to the growing influence of economic processes to national security and the attempts of individual foreign countries to use economic instruments for implementing their geo-political interests.
Therefore it is important to identify and prevent the activities in a timely manner for gaining control over companies or fields significant to Latvian economy, the real aim of which is not the business and profit but the establishment of political influence in the interests of other countries. For ensuring economic security also, it is crucial to timely detect and prevent the activities of businessmen who work for foreign security and intelligence services.
The stability of financial sector is crucial to the economic security. In order to develop Latvian economy and ensure its sustainability it is highly important to timely identify and prevent the risks posed to state financial reputation. Within the scope of its competence, VDD conducts the assessment of risks related to stability of financial sector, especially paying attention to potential terrorism financing cases and risks related to non-resident funds impacting financial sector.
One of the priorities in terms of economic security is the partaking in the control and monitoring of strategic goods. With this respect, the main aim to outline is the prevention of possible exploitation of Latvian territory or businessmen for activities which oppose international sanction regime.
In order to protect state’s economic security interests VDD carries out counterintelligence and operational activities to timely obtain information about the actions which threaten the economic sovereignty. In this matter VDD cooperates with other state security and intelligence services (SAB and MIDD) as well as with international partner services. About the identified risks to the economic security VDD regularly informs senior officials and national and municipal institutions involved in the decision making processes and the elimination of the identified risks.