7th July 2017
When some of Latvia’s banks became infected with dirty money, all paid the price. “Correspondent” banks—international banks that clear smaller banks’ foreign-currency transactions through big financial centres—began detaching from the Baltic country. JPMorgan Chase withdrew in 2013. By last year only Deutsche Bank was left. It soon stopped serving half… Read More
23rd November 2016
Supported by Europol’s European Cybercrime Centre (EC3) and the Joint Cybercrime Action Taskforce (J-CAT), as well as Eurojust and the European Banking Federation (EBF) the second coordinated European Money Mule Action (EMMA) culminated in the arrest of 178 individuals. Read More
21st September 2016
The law enforcement agencies of Latvia and Ukraine should cooperate more closely in making the decision on transferring EUR 50 million, recognized as illegal funds in Ukraine, to the budget of Latvia, the presidents of the two countries have stated at a bilateral meeting in New York. The press service… Read More
13th September 2016
Latvia has recovered to the national budget EUR50 million of funds of the former Ukrainian high-ranking officials arrested within the fight against money laundering, the LSM local media has reported with reference to the investigation of the De Facto program. The media reports in autumn 2014 Prosecutor General of Ukraine… Read More
26th July 2016
Latvijas Pasta Banka is the latest commercial bank in Latvia to be penalized for failing to comply with anti-money laundering and counter-terrorism financing legislation, the national banking regulator informed Monday. The regulator, the Financial and Capital Market Commission, slapped a fine of 305,000 euros (335,271 U.S. dollars) on the bank,… Read More
17th June 2016
Documents leaked to the Organized Crime and Corruption Reporting Project (OCCRP) from Latvian banks appear to offer instructions to clients on how to use fake offshore companies associated with the bank to launder money or evade taxes. Read More
2nd June 2016
Penalties for banks and their employees violating anti-money laundering regulations will become tougher in Latvia under amendments to the Credit Institution Law passed by Saeima on June 2nd, informs LETA. Read More
4th March 2016
A Latvian lender linked to a string of money-laundering probes was closed by the European Central Bank. Read More
26th January 2016
Banks in the Baltic state are suspected of laundering billions in ill-gotten gains from Russia and Moldova. Read More