Over the past few years, AmCham has followed closely the transformation of Latvia's financial sector. We commend the recent positive evaluation of the International Financial Action Task Force (FATF) of the significant progress achieved in improving Latvia's capacity to investigate and prevent financial crimes.

A stable and secure financial sector strengthens investors' credibility and demonstrates strong country reputation in the global financial system. We support and will continue to support the work of the government, the FCMC, the FIU and other authorities to fully eradicate money laundering and terrorist financing in Latvia.

AmCham will continue its ongoing cooperation with the government, respective authorities and banking sector to seek solutions to prevent negative impacts on access to banking services for both existing and potential foreign investors and make our country attractive for high value-added investments.

This year we have held several activities addressing the transformation of the financial sector:

• Discussion on relationships between banks and corporate customers on January 22;
• Members' lunch meeting with the Head of Financial Capital Markets Commission (FCMC) on February 7; 
• Survey of members about their relationships with banks, conducted in February, 2020;
• FICIL meeting (including with AmCham representatives) with the Head of FCMC on February 10, 2020.