Banks
Nordics and Baltics hire IMF to probe regional money-laundering risks
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 allegedly linked to Putin's pink palace scheme
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).
Central bank to issue 'de jure' commemorative coin
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.
Regulator issues warning about unlicensed financial services company
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.
Luminor bank completes €300m bond issue
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.
Regulator fines Regional Investment Bank for "irregularities"
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." 
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.

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