The Office for Prevention of Laundering of Proceeds Derived from Criminal Activity says it will look into the case.
"Whether the account is secret or not.. we have to trace the funds," said the office's outgoing head Viesturs Burkāns.
It is understood that if the banks are unable to identify and disclose the accounts, the office may turn to the US authorities to clarify the claims, made by Celeste Wallander, Special Assistant to President Barack Obama and Senior Director for Russia/Eurasia on the National Security Council from 2013-2017.
Russia has so far not commented the claims, and the Russian Embassy in Latvia did not answer LTV's requests for clarification.
LSM asked Ms Wallander for comment too. A spokesman for the US Russia Foundation of which she is president and CEO told us: "Dr. Wallander has no further comment about this article at this time."