Coronavirus influences patterns of ATM usage
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.
Latvian central bank issues 'Modernist' collector coin
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.
Latvia's bank profits 47.1% smaller than last year
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.
U.S. Treasury "embeds" advisor in Latvian Finance Ministry
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.
Banking system made quicker for foreign investors
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.
Latvian financial regulator publishes due diligence guidelines for banks
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.
Latvia's financial watchdog fines Signet Bank nearly a million euros
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.
“Luminor” bank warns about fraudsters
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.
Latest ABLV investigation involves nearly 400,000 euros
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.
Regulator fines Citadele bank nearly 650,000 euros
Latvia's financial regulator, the Financial and Capital Market  Commission (FKTK) said April 30 it is fining retail bank Citadele nearly 650,000 euros for failures in its approach to countering money laundering.
Former Krājbanka board faces prospect of paying 15 million euros
Former members of the board of defunct bank Latvijas Krājbanka (Latvian savings bank) face the prospect of having to find around 15 million euros between them as a result of failures of oversight while they were supposed to be ensuring the bank was run in a proper manner, reported Latvian Radio April 28.
Swedbank once again last year's top earning bank
Last year Swedbank once again topped the list for audited profits among Latvian banks according to bank public financial records, while four banks posted losses, according LETA news agency on April 22.
"Cat's Mill" is named Latvian coin of the year
The collector coin titled "Cat's Mill" dedicated to the literary work of the Latvian poet, prose-writer and politician Kārlis Skalbe (1879–1945) has been voted Latvia's Coin of the Year 2019 in public vote, the Latvian central bank (Latvijas Banka, LB) announced April 14.
Banks raise contactless pay limit to 50 euros
Latvia's retail banks have agreed to raise the standard limit for "contactless" transactions to 50 euros from the previous 25 euros, saying that doing so will potentially help counter the spread of coronavirus via buttons and keypads.
Vote, vote, vote for your favorite Latvian coin
If you're stuck at home doing your bit for social distancing, what better way to pass the time than by weighing up the comparative aesthetic merits of a small selection of Latvian coinage?