The previous competition for the position of Head of the Financial Intelligence Unit took place in 2018, which Znotina also won.
FID plays a key role in combating money-laundering, sanctions-breaking, terrorist financing and financial sector fraud, and has been instrumental in the concerted effort to clean up the previously dubious reputation of Latvian banks in this respect.
The main task of the Financial Intelligence Unit of Latvia is to collect and analyse financial data and reports of suspicious transactions, in order to hand this information over to Latvian law enforcement authorities to investigate cases of money laundering and terrorism and proliferation financing.
The activities of the Financial Intelligence Unit of Latvia are regulated by the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing, as well as other national laws and regulations, EU regulations and international standards.
