The Financial and Capital Market Commission of Latvia announced its new approach to anti-money laundering, counterterrorist financing and non-proliferation financing inspections.
The Seimas, Lithuania’s parliament, released a declaration of support for the Belarusian people and condemnation of Belarusian security forces on behalf of the country, the Republic of Estonia, and the Republic of Latvia.
U.K. lawmakers propose AML carveout for certain fintechs, U.S. banks reminded to vet cryptocurrency companies, and more, in the weekly roundup.
Latvia’s Financial and Capital Markets Commission on Thursday fined Rietumu Banka €5.9 million for a string of anti-money laundering violations, several of which stem from the lender’s ties to domestic and foreign payment services providers.
The Financial and Capital Market Commission (FCMC) issued a fine against the Riga, Latvia-based financial institution for infringements of anti-money laundering (AML), counterterrorist financing (CTF) and proliferation financing rules.
Latvia’s Financial and Capital Market Commission issued a €57,217 fine against the Riga, Latvia-based financial institution for its anti-money laundering and counterterrorist financing failures related to a weak internal controls system.
|Compliant : 7||High : 0|
|Largely Compliant : 33||Substantial : 1|
|Partially Compliant : 0||Moderate : 8|
|Non-Compliant : 0||Low : 2|
Latvia's technical compliance was re-rated in a Jan. 22, 2020 follow-up report
|Rank : 97/141|
|Score : 4.62/10|
|Rank : 44/180|
|Score : 56/100|
|Rank : 65/133|
|Score : 59/100|