Latvia is among a group of Nordic and Baltic countries that are asking the International Monetary Fund (IMF) to conduct an analysis of cross-border money laundering and terrorist financing risks in the region, the Latvian Central Bank, (Latvijas Banka, LB) said in a statement January 21.
Latvian bank “SMP bank” played a role in a complex chain of transactions that helped Russian President Vladimir Putin obtain a palatial private residence, according to Georgy Alburov, an associate of Russian opposition figure Alexey Navalny and his Anti-Corruption Foundation (FBK).
Latvijas Banka, the Latvian central bank, is issuing a 2 euro commemorative coin dedicated to the 100th anniversary of the de jure recognition of the Republic of Latvia. The coin will only be available for online purchase in gift packaging and in souvenir sets.
The European Central Bank on January 11 said it was taking over supervision of Latvia's Citadele banka as part of its remit to regulate banks deemed to be of systemic importance.
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said January 7 it carried out 12 inspections of banks related to money-laundering issues and found "only a few cases" meriting punitive action.
19 January 2021 sees the Latvian Capital Market Forum 2021 taking place online under the title: "Today's Decisions = Future Opportunities".
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) issued a warning December 23 about financial services being offered by an unlicensed provider called "BLP Baltijas Privatbanka" on its website https://www.blpbank.com/. On Wednesday afternoon the website appeared to be no longer functioning.
Anyone worried that the Latvian central bank (Latvijas banka, LB) has not put out a new collector coin in the last three weeks can heave a sigh of relief as another one is imminent.
Luminor, third-largest provider of financial services in the Baltics, has completed a €300m bond issue, the bank confirmed in a press release. In addition, the bank has repurchased €250m of existing bonds due in 2021. The transactions, were completed on December 3.
The Latvian central bank (Latvijas banka, LB), has announced it is putting out yet another collector coin.
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said November 6 it had decided on November 3 to impose a fine of EUR 473,076 on Reģionālā investīciju banka (Regional Investment Bank, RIB) for "irregularities in detecting the source of funds, which were identified during a FKTK inspection in large value cash transactions carried out by the Bank's high-risk clients from high-risk jurisdictions."
The Latvian central bank is issuing another coin for collectors, this one bearing the image of a linden leaf and dedicated to the theme of ecology.
The coronacrisis has influenced human behavior in numerous ways, some directly, some indirectly. Among the latter category is the usage of automated teller machines (ATMs), also known as cash machines or bankomāti, according to data from Luminor bank.
Former NATO Secretary General Anders Fogh Rasmussen is among nine persons being sued by the administrators of the insolvent Latvian bank “PNB”, LTV's investigative program De Facto reported October 4.
The Latvian central bank, (Latvijas banka, LB) has released another collector coin to pique the interest of numismatists everywhere. This one is square-ish and dedicated to the theme of Modernist art in Latvia in the 1960s, known as the period of the Thaw, associated with the political developments of that time.
Latvian monetary financial institutions, mainly banks, have been working on profits of €93 million in first eight months of 2020, according to information published by the Bank of Latvia September 28.
On Thursday, September 24, Latvia's Minister for Finance Jānis Reirs, the Head of the Financial Intelligence Unit Ilze Znotiņa and the U.S. Ambassador to Latvia John L. Carwile signed the Terms of Reference between the Republic of Latvia and the US Department of Treasury, prescribing the provision of technical assistance of the U.S. Department of Treasury in the field of anti-money laundering and countering terrorism and proliferation.
Re:Baltica, the Baltic Center for Investigative Journalism, has published more stories outlining the vast scale of money-laundering operations that have taken place in the Baltic states, including Latvia, over recent years.
The Baltic Center for Investigative Journalism, Re:Baltica, released a new series of reports September 20 revealing the vast scale of suspected illicit flows of cash via Latvian banks between 2006 and 2017.
The Ministry of Economics (EM), the Latvian Investment and Development Agency (LIAA) together with the financial sector have developed a questionnaire for foreign investors intended to save time, EM told Latvian Radio September 18.
Latvijas Banka (LB), the Latvian central bank, confirmed September 3 that it will host its annual conference on September 25 at 11:30 with the title "Money and public security"
Latvia's financial regulator the Financial and Capital Markets Commission (FKTK) on August 25 published a list of recommendations for banks and other financial institutions aimed at producing improvements in the areas of internal control and customer due diligence, which have repeatedly proven to be weaknesses in the past.
The European Ombudsman released a decision on July 27 with relevance to the imposition of sanctions against a high-profile individual in Latvia, namely long-time Ventspils mayor and influential political fixer Aivars Lembergs, referred to by U.S. authorities and others as one of Latvia's top "oligarchs".
Lavia's financial regulator the Financial and Capital Markets Commission (FKTK) said July 27 it had approved FinTech company Nordigen as a payment institution "with the right to provide account information services".
The Board of the Financial and Capital Market Commission (FKTK) on July 14 2020 decided to apply a fine of EUR 906,610 euros to Signet Bank for breaches of the anti-money laundering and counter terrorism and proliferation financing (AML) regulatory requirements, FKTK said in a news release July 16.
The “Luminor” bank has been informed about calls to customers for the purpose of defrauding the Internet banking access, informed Inese Kronberga, spokeswoman for Luminor, on July 3.
Sweden's financial supervisory authority, Finansinspektionen (FI), said June 25 it was fining SEB bank 1 billion krona (96 million euros) for "deficiencies in its work to combat anti-money laundering in the Baltics".
A total of 374,882,245 euros, including cash, financial instruments and real estate have been arrested in the criminal procedures into ABLV Bank investigated by the Economic Crime Control Department (ENAP) of the State Police, the LETA newswire reported June 19, citing police as the source.