The government is clarifying the principles and role of the sanctions enforcement body / Art

The new FID regulations were prepared on the basis of an amendment to the Act on International and National Sanctions of the Republic of Latvia, which provides for the establishment of FID as the institution responsible for enforcing international and domestic sanctions.

The Act on Counteracting Money Laundering and Financing of Terrorism and Proliferation has been similarly clarified.

At the same time, the project also includes other clarifications of the legal framework.

FID is approved as a direct administrative institution subject to the institutional supervision of the Minister of Internal Affairs. In accordance with its competences, FID carries out the tasks entrusted to it in the field of money laundering, preventing terrorism and proliferation financing, and in the enforcement of international and national sanctions.

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