The Financial and Capital Markets Commission (FCMC) has information on the exchange of all paid payments by Latvian banks in the SWIFT service network and did not receive information about the inclusion of Latvia in & nbsp; the list of high risk.
It has already stated that SWIFT, the International Bank Information Exchange Network, provides settlement between banks of different countries recognized by Latvia as a high-risk country. On Tuesday, November 27, members of the Saeima Budget Commission were informed by the Minister of Finance Dana Reizniece-Ozola (ZZS).
The Commercial Bank of Latvia on November 28 FCMC has confirmed that all processes are usually ordinary. Finally, the regional office SWIFT informs the Latvian authorities that this organization has no information about SWIFT decisions on creating high-risk lozenges.
"It is important to understand before public announcements are known as SWIFT (Worldwide Interbank Financial Telecommunication), an organization that is banks with the exchange of their communications resources. The process is within seconds – the SWIFT system contains Payments to the Beneficiary Bank SWIFT Away SWIFT has never done and does not perform AML checks or bank records as bank location and does not include payments SWIFT provides banks to change order in a secure and standardized manner for various types of financial transactions, including interbank, Banking Payments The institutions responsible for checking our sector have today affirmed that the exchange of this information in the domestic and international environments is being addressed and has been launched in a normal way, "FCC explains Peters Putnins.
In the investigation of information, the FCMC and other responsible institutions have no confirmation that there would be a decision, a message, or the list of SWIFT would assess the LGBT as a high risk area. SWIFT, or organization, does not make a list of banks or countries under certain criteria and does not handle payment reports, the FCMC declares.
As indicated in SWIFT information – SWIFT is a neutral organization that sends a message message and is not involved in a financial transaction control or monitoring system. As global provider of services, SWIFT does not make decisions about setting restrictions or intentions, such control issues are the responsibilities of recipient countries and their co-legislators.
"I really feel to everyone who publish specific information that can make the international reputation of our country harmful or, in particular, pay attention to such sensitive sector as a financial area and its stable and unhindered Operation, to check each post for commenting on expanding. Unfold facts make a false impression on our country, the Latvian banking sector and the work has already been done to strengthen the international reputation of the Latvian financial sector and to change the process of bank transfer, Putnins calls.
The FCMC indicates that transferring payment terms is one of the interbank stocks. The exchange of messages between banks in the SWIFT network takes place a few seconds, SWIFT does not hold any payment reports in control. Payments are made on payment through the SWIFT network with payment systems (for example the Eurosystem's TARGET2 Eurosystem payment system) or by open channels by banks between their (correspondent accounts). As a representative of financial transactions, SWIFT is not a potential for legalizing the benefits of crime, including client customer service (CDD) on payment terms transmitted through the SWIFT network. Other times whether banks use to use their own solutions, SWIFT services or other technical solutions that have been developed by IT companies, management of money gains and terrorist financial risk is the responsibility of the sender and recipient payment order.
The auxiliary services offered by SWIFT include a number of additional services, such as the solutions developed by other organizations and their own banks, making banks able to optimize their work, including the Implementing regular risk limitation of financial will and terrorist financing. Correspondent banks that get SWIFT payment reports may even run extended inspections. SWIFT provides additional resources for an additional fee that can help their clients (banks) to check AML (missing transactions and tell the user of this tool). But it is a different type of software and is not an integral part of the SWIFT telecommunications gear.