Banks estimate that there may be 10,000 to 15,000 politically exposed persons in Latvia. Together with their relatives and persons they are closely associated with, the total number may be around 200,000.
Early February, Saeima passed amendments to the Law on the Prevention of Money Laundering and Terrorism Financing, tasking banks with monitoring finances of politically exposed persons more closely.
From March 1 the status of a politically exposed person applies not only to high-ranking officials, such as parliament members and ministers, but also to their relatives and persons they are closely associated with.
