Another key area of my focus is digital transformation , with a particular focus on cutting-edge technologies , such as artificial intelligence ( AI ) and machine learning . I strongly believe that in an increasingly complex financial landscape , the integration of AI and machine learning tools in daily work is a prerequisite . In the area of AFC , innovations are business enablers and even drivers that empower us to analyze large amounts of data with unprecedented speed and accuracy . In addition , digital transformation not only enhances the efficiency of our AFC systems and processes but also enables us to respond swiftly to emerging new risks and , therefore , strengthens the FIU ’ s overall capabilities to protect our financial system against financial crime . We have already piloted several new initiatives , such as the “ black box ” and OpCEN ( an enhanced operational public-private partnership model ), and the early results are positive .
And last but not least , I am a strong believer in international cooperation in the area of AFC . That is the reason why I try to be as active as possible in the international arena . I am a regional representative of the Egmont Group Europe I Regional Group ; a MONEYVAL assessor ; a board member of the ACAMS Baltic Chapter ; and a member of two ACAMS task forces . And even then , I am keen to expand my role and contribute even more .
AT : From your experience , what tools or resources are most instrumental in staying current with emerging financial crimes ?
TP : In my experience , staying current with emerging financial crimes demands an approach that involves a variety of tools and resources . First , I consider that professional networks play an important role . I am a strong believer in the Egmont Group , in our “ superpower ” of exchanging and sharing information , but even beyond that , engaging with my peers nationally and internationally , regulatory bodies and law enforcement agencies is extremely important to understand the risks , the outlook , the strengths and the weaknesses of the AFC systems . It is your network that can help you stay one step ahead in the battle against financial crime .
International events and conferences are equally essential . I try to attend as many as possible and I try to contribute as a speaker as often as possible . These platforms bring together experts and thought leaders from across the globe . Since financial crimes become more and more global , interconnected and cross-border , our response should be even better and with closer collaboration . This is why I consider such events instrumental in shaping our AFC strategies and ensuring they are indeed effective .
Last but not least , effective communication , continuous learning and exchange of information within and outside the organization is a must .
AT : What are the parts of your career that you have enjoyed the most ?
TP : I was fortunate to be the acting head of the FIU last summer when my country and FIU Latvia were hosting the 28th Egmont Group Plenary in Riga , which was the first in-person meeting since 2019 . It was an immense pleasure to be able to finally re-shake hands with all our international partners . In addition , everyone on my team and I took great pride and responsibility in hosting over 400 delegates from
125 countries in our hometown . We wanted not only to have a productive and meaningful event but also to show a little glimpse of our wonderful country and culture . And I believe we did this ! It was a real team effort and I can only recommend everyone to go through this experience !
AT : What is the most helpful piece of information you have learned that has helped you advance in your career ?
TP : I would say , first , it is enthusiasm that has been my driving force . My willingness to really understand the complexities of the world of financial crimes , my willingness to learn and discover , coupled with the passion to make a difference . I am certainly not somebody who wants to go about “ business as usual .” I want to strive . I want to solve difficult things . I want us ( the FIU ) to be among the best .
Second , I can see that the digital world is our future . Sometimes , it is difficult to see where exactly it will take us , but one thing is clear ― it provides huge opportunities . This is why I want our FIU to be an agile organization , one that can quickly adapt and respond to the changing world , embrace new technologies and prioritize collaboration and flexibility .
AT : What advice would you offer to AFC professionals wanting to go above and beyond in their careers ?
TP : Easy ! Stay persistent , stay curious and never stop learning . Finally , work hard . And by hard , I mean harder than anyone else .
Interviewed by : ACAMS Today editorial , ACAMS , editor @ acams . org
ACAMS Today | December 2023 – February 2024 63