Latvian State Security Service (VDD) has developed the strategy for the prevention of terrorism financing for 2019-2021 with an aim to improve the system of terrorism financing prevention in Latvia, to strengthen state’s capabilities in combatting of terrorism financing and to improve the reputation of Latvia in the international financial markets.
The strategy describes the terrorism threat situation in Latvia and in other countries and also defines the joint strategic basic principles for the prevention of terrorism financing for Latvian institutions which are involved in the prevention of terrorism financing.
The basic principles defined in the above-mentioned strategy will help to secure an effective terrorism financing prevention system in Latvia by decreasing risks of terrorism financing and will develop a coordinated and effective cooperation among the institutions which are involved in the prevention of terrorism financing.
VDD accentuates that the terrorism threat level in Latvia remains low and the information at VDD disposal does not indicate that in the nearest future it might change. However, VDD stresses that terrorism is still one of the main security threats in Europe and worldwide. Terrorists are constantly searching for new ways how to finance their activities: activities of terrorist organizations, travel of fighters and their participation in armed conflicts, preparation of attacks, recruitment of new members, spreading of propaganda, purchase of arms and counterfeit documents, covering everyday expenses etc.
Even though no incidents connected with terrorism have taken place in Latvia and no activities of terrorist organizations have been established, VDD has come across persons in Latvia who express views that indicate about radicalization risks. VDD has also established Latvian residents who have joined the Islamic terrorist organization "Daesh".
On 23 August 2018 "Moneyval" – Committee of Experts on the Evaluation of Anti-money Laundering Measures and the Financing of Terrorism of the Council of Europe – published its 5th report about Latvia in which the system of terrorism financing prevention in Latvia was analyzed and recommendations were given for its improvement. The implementation of "Moneyval" recommendations is coordinated by the Financial Intelligence Unit of Latvia. In the beginning of 2019 VDD developed guidelines for the prevention of terrorism financing and proliferation and now has finished its work towards the strategy for the prevention of terrorism financing.
The strategy for the prevention of terrorism financing can be found on VDD website.
Information was prepared by VDD