After U.S. Money-Laundering Probe, Latvian Leader Vows a Cleanup
15 Jul 2019

After a U.S. money-laundering probe rocked Latvia’s economy, sending one of its largest banks belly up, the Baltic nation’s U.S.-born leader is trying to convince Washington and business leaders that he’s cleaning up his country’s financial system for good.

In meetings this week with top investors and U.S. policy makers, including Vice President Mike Pence and Treasury Secretary Steve Mnuchin, Prime Minister Krisjanis Karins vowed steps to make a clean slate and attract foreign investment.

“The signal is very clear on money laundering: We have a zero-tolerance policy in our country, and we will not tolerate it in our banking system,” Karins said in an interview Friday at Bloomberg’s headquarters in New York.

By David Wainer and Aaron Eglitis, Bloomberg, 13 July 2019

Read more at Bloomberg

Photo: European People’s Party [CC BY 2.0], via Wikimedia Commons

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