7th June 2019
The European Commission on Wednesday called on six EU member-states to bolster their anti-money laundering (AML) supervisory and enforcement efforts in light of recent bank scandals and the risks of crypto-assets. The requests highlight recent efforts by Denmark, Estonia, Latvia, Bulgaria, Sweden and Malta… Read More
6th June 2019
Latvia’s Ministry of Justice has added charges of money laundering to its ongoing bribery case against European Central Bank Governing Council member Ilmars Rimsevics, Bloomberg reported Tuesday. Latvian prosecutors last year accused Rimsevics of soliciting a bribe of €500,000 from a since-shuttered bank that was alleged to have violated money laundering… Read More
17th May 2019
Latvia came under renewed pressure to accelerate financial reforms as a senior U.S. official, at a meeting with its prime minister, underscored the urgent need for stricter controls after a money laundering scandal. His remarks come more than a year after the United States acted to shut down ABLV, a… Read More
18th April 2019
Bill Browder, an investor who campaigns to expose corruption, has taken a criminal complaint against Swedbank to Latvian authorities, alleging it was involved in a Russian money laundering scandal. Swedish broadcaster SVT reported in March that Swedbank processed gross transactions worth up to 20 billion euros a year from high-risk,… Read More
17th April 2019
A year after closing one of its largest banks for money laundering and the detention of its central bank governor for alleged bribery, Latvia is struggling to deal with the fallout from the corruption scandal. The country’s new government, formed in January after months of political deadlock, is trying to… Read More
15th April 2019
European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More
12th April 2019
Latvia’s prime minister has promised to accelerate an overhaul of the banking sector as fears grow that money laundering scandals could single the country out as high risk, prompting Swedish lenders to leave and isolating the Baltic state. In an interview with Reuters, Krisjanis Karins said he would take earlier… Read More
13th March 2019
The European Central Bank will take over the supervision of Latvia’s PNB Banka, a small lender that has accused the country’s central bank governor and financial regulator of running a racket after being itself fined over money laundering. The decision followed a request by the Latvian financial watchdog, which said… Read More
4th March 2019
AP—A spokesman for Latvia’s central bank says the governor, who is also a member of the European Central Bank and is investigated for alleged bribery, has returned to work. Janis Silakalns said Thursday that Ilmars Rimsevics returned to his office on Wednesday, a day after the EU Court of… Read More
28th January 2019
Lithuania has taken extra measures to prevent money-laundering after bank scandals in Latvia and Estonia which have harmed its reputation, its central bank Governor Vitas Vasiliauskas said. The euro-zone member has so far avoided any major financial scandals of its own but felt it needed to improve its safeguards, Vasiliauskas,… Read More