Watch Live: Workshop on Building Culture of Compliance and Effective Public-Private Partnerships to Prevent Financial Crime, 07.11.2017

We kindly invite you to join and watch livestream of the high-level AML/CFT workshop “Building Culture of Compliance and Effective Public-Private Partnerships to Prevent Financial Crime” on November 8 from 9:00-12:00. Two important topics will be discussed in the context of AML/CFT compliance.

The demand for mortgages remains stable. The programme of Altum is of importance, 05.10.2017

In the first half of this year, the same as previously, the dynamics of household lending was positive. According to data summarised by the Association of Latvian Commercial Banks (ALCB), the amount of loans issued to households in the first half of 2017 was 337 million euros, out of which 233 million euros were issued as mortgages.

Experts will debate the future of remote electronic identification, 03.10.2017

The Digital Freedom Festival in collaboration with the Representation of the European Commission in Latvia and the Association of Latvian Commercial Banks will organise an expert discussion on the future of remote electronic identification. The discussion will be held on October 6, from 10:30 till 12:30 in the OraculeTang co-working space conference room (Doma laukums 2, Riga).

Pension plans continue to grow steadily, the volume of collected funds in the second-pillar exceeds 3 billion euros., 08.09.2017

In the first half of 2017, Latvian pension funds and pension managers have secured a stable and positive yield - since the beginning of the year the average yield on second-pillar and third-pillar pension plans has been 3.5% and 1.75% respectively. Over a five year period - 3.56% and 4.36% respectively, according to the data of the Pension Fund Review of the Association of Latvian Commercial Banks (ALCB).

ACAMS and RTU Riga Business School Announce CAMS Certified Anti-Money Laundering Specialist Qualification Training Partnership, 25.08.2017

The Association of Certified Anti-Money Laundering Specialists (ACAMS) and RTU Riga Business School (RBS) are pleased to announce the formation of a strategic training partnership to support Latvian AML professionals preparing for the Certified Anti-Money Laundering Specialist (CAMS®) qualification, widely regarded as a global gold standard in the area of anti-money laundering certifications and recognized internationally by financial institutions, governments, regulators and standard setters. This training partnership aims to offer international AML/CTF best practice education to professionals working in AML and financial crime prevention and detection in Latvia

The ALCB begins cooperation with the Digital Freedom Festival, 15.08.2017

The Association of Latvian Commercial Banks (ALCB) has become the financial technology (fintech) partner of the Digital Freedom Festival. During the joint cooperation we will organise high level discussions attracting the most experienced experts in the area, both within the framework of the festival during November 27-28, as well as during several earlier warm-up events.

Association of Latvian Commercial Banks will develop industry wide guidelines to improve control mechanisms in financial sanction enforcement, 03.07.2017

The Council of Association of Latvian Commercial Banks has discussed the strengthening of compliance in Latvia's banking sector, with a special focus to OFAC sanction list enforcement. The Council agreed that significant progress has been achieved since 2016 to ensure highest standards in anti-money laundering and countering terrorist financing which are continuously improved. It is important to pay a special attention to control mechanisms in financial sanction enforcement and one of the steps is to develop common industry wide guidelines. The Council agreed to develop the guidelines by October 2017.

Commentary on the new European pension initiative, 30.06.2017

The Association of Latvian Commercial Banks positively acknowledges the European Commission's private pension initiative - the PEPP initiative, which will complement the existing pension products in Member States. This is an encouraging step towards development of single, secure and internationally competitive European financial sector.

Statement of the Association of Latvian Commercial Banks after inspections by FCMC in collaboration with U.S. Law Enforcement institutions in several Latvian banks, 27.06.2017

“Association of Latvian Commercial Banks has seen the statement of Financial and Capital Market Commission after inspections in collaboration with US Law Enforcement institutions in several Latvian banks.

ALCB: Latvia has no obstacles to make the beneficial ownership register available to public, 20.06.2017

The Association of Latvian Commercial Banks (ACLB) has concluded, after the conducted legal research, including analysis of international legal acts and foreign practice, that Latvia has no obstacles for making the information included in the beneficial ownership register available to public, which would promote effectiveness of identification and detection of beneficial owner.
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