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The Commission noted that the CFMC had verified information relating to the exchange of payment messages allegedly encumbered by Latvian banks in the SWIFT services network and that Latvian banks had confirmed that all processes proceeded in the usual order. In turn, the SWIFT Regional Office informed the Latvian authorities that this organization did not have any information on SWIFT's decisions regarding the creation of lists of high-risk countries.
"It's important to understand before making public statements, which is SWIFT (Society for Worldwide Interbank Financial Telecommunication) It is an organization that provides banks with the exchange of messages for their communication networks. This process takes place in seconds – the SWIFT system sends payment messages to the receiving bank immediately on the SWIFT network. SWIFT has never carried out any illegal money laundering (AML) checks or filter banks, without the bank's will, and holds no payment. SWIFT allows banks to exchange orders securely and in a standardized manner for various types of financial transactions, including interbank and bank payment messages. The authorities responsible for monitoring our sector today confirmed that this exchange of information, both inland and internationally, was proceeding smoothly. and orderly, "said Mr. Putnins.
CPR noted that the board and other responsible institutions did not have any information indicating that there would be a decision, message or list in which SWIFT would have badessed the Latvian state as a high risk area. As an organization, SWIFT does not establish a list of banks or countries based on any criteria and does not maintain payment reports.
"I appeal to anyone wishing to publish information likely to undermine the international reputation of our country, or more particularly touching a sector as sensitive as the financial sector and its stable and unhindered operation, to verify each message before The unpredictable facts create a false impression on our country, the Latvian banking sector and the work already done to strengthen the international reputation of the Latvian financial sector and transform the approach of the banking sector. Putnins.
FCMC indicated that the transmission of payment messages is one of the steps of the interbank settlement. The exchange of messages between banks within the SWIFT network takes place in a few seconds. SWIFT does not keep payment reports in check. The payment of payment orders sent via the SWIFT network takes place via payment systems such as the euro TARGET2 payment system of the Eurosystem, or through open accounts between banks. As a financial transaction service provider, SWIFT does not badume any AML monitoring function, including Customer Due Diligence (CDD), for payment orders sent to the SWIFT network. Whether banks choose to use their own solutions, SWIFT services or other technical solutions developed by information technology companies, the risks of money laundering and terrorist financing are the responsibility of the banks. 39 sender and the recipient of the payment orders.
The Commission also indicated that SWIFT 's range of ancillary services offers a number of additional services which, similar to those developed by other organizations and their own banks, allow optimize their operations, including through the regulatory control of money laundering and terrorist financing risks. Corresponding banks that receive the SWIFT payment messages themselves can perform extensive inspections. SWIFT offers additional tools at additional cost, which can help customers control AML detection and report suspicious transactions to users of this tool – but it's a different kind of software that is not part of it integral part of the SWIFT telecommunications network.
The Bank of Latvia also confirmed to the LETA that the Bank of Latvia had not observed their detention in the SWIFT network as part of the TARGET2 payment system sent and received. Similarly, in the case of international transactions of the Bank of Latvia, the exchange of payment messages sent and received by foreign partners, including the United States, in the SWIFT network takes place in daily mode. that is to say in a few seconds.
The LETA agency has already announced that on Tuesday 27 November, Dana Reizniece-Ozola (ZZS), Minister of Finance of the Saeima Commission for Budget and Finance (Taxation), had declared that Latvia had been included in the system high risk of the SWIFT international payment system. "If in the past, international transfers were made during the day, transfers often take a week, because SWIFT carries out additional checks," she said.
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