The NILLN.LV platform is an automated Anti-Money Laundering tool for unified customer research and sanctions control. The platform has been developed through the cooperation of the technological and consulting company Nordexo, as well as specialists of consulting and professional methodical materials and training company Biznesa Konsaltinga Grupa. The beginnings of NILLN.LV can be traced back to 2020, but in its current form, the platform started its operation in April 2022, and by the end of 2022 it gained popularity among the subjects of the AML/CFT law, which is monitored by the tax authorities (accounting service providers, real estate agents, legal service providers, tax consultants, sworn auditors, etc.), as well as among large transport, logistics and construction companies.
During 2022, the NILLN.LV team significantly developed both the functional range of the platform, which is available to all its users, and also supplemented it with methodological materials – with samples of the methodology for organizing internal control system and sanctions monitoring, as well as with other documents useful for professional service providers.
Despite the fact that the NILLN.LV solution is already actively used by hundreds of Latvian companies from several different industries, making it the largest AML/CFT automated solution in Latvia, partner and NILLN.LV product development manager Daniils Vladimirovs points out that "however, the majority of entrepreneurs in Latvia currently do not proper management of sanctions risks, which indicates the absence of control systems for most companies. When working with clients, it can be observed that the absence of internal controls system causes the displeasure of credit institutions, because credit institutions are currently paying special attention to complying with the requirements of sanctions and not allowing them to be circumvented, and banks want to expect the same attitude from their clients."
More information available: NILLN.LV