05 Oct Report on joint assessment of cash movement in the Baltic states
The Financial Intelligence Units of Latvia, Estonia and Lithuania published a report on joint assessment of cash movement in the Baltic states. The assessment aims to understand the risks of cash-based money laundering and how they have changed in recent years. The document reports that cash flows from Russia have decreased, but cash inflows from other countries remain high. It also suggests that the Baltic states are mainly used as transit routes for illicit cash, but some of it may stay and enter the shadow economy. The authors of the report recommend more research, collaboration, and harmonization of anti-money laundering rules to prevent and combat cash-based money laundering. They also highlight that the assessment is part of an initiative called AML Innovation Hub, which is funded by the European Union.
Author(s): Financial Intelligence Unit of Latvia