The regulations have been developed and approved in order to improve processing of this information and to ensure effective implementation of the FKTK functions, the watchdog said.
The regulations establish a uniform procedure and a form to be used by the banks when compiling and submitting information about customers and their transactions that the financial watchdog needs to perform its supervisory functions.
All this information will have to be submitted in electronic format only, and all banks will have to use the same form to supply FKTK with the required information at the prescribed intervals.
The move comes as efforts continue to crack down on money laundering and allied crimes.
Numerous suspected cases of large-scale money laundering, often involving cash flows from Russia, have been reported over the years, but after the resignation earlier this year of former FKTK head Kristaps Zakulis, efforts to combat money laundering and improve the reporting standards of banks have been noticeably stepped up under his successor Peters Putnins with a series of big fines imposed against banks for lapses in their oversight.