LatviaThe State Security Service in Latvia, or VDD, issued a statement concerning criminal proceedings involving alleged EU sanctions violations.
The Prime Ministers of Estonia, Latvia, and Lithuania issued a joint declaration acknowledging the region’s challenging position with respect to Russia.
Baltic Bankers, Regulators Discuss Sanctions, AML Supervisory Challenges
Russian sanctions-evasion schemes connected to the Baltics continue to grow in complexity and sophistication, officials told an industry event in Latvia on Wednesday.
Records Identify LLCs, Other Entities Behind Fintech Accused of Laundering Billions
Records obtained and reviewed by ACAMS moneylaundering.com link a Lithuanian fintech at the center of a cross-border investigation to LLCs and other legal entities in Britain, Latvia, South Africa, the Seychelles and other jurisdictions.
Sanctions STRs Skyrocket Across Europe
The Financial and Capital Market Commission issued a fine against the Riga, Latvia-based financial institution for breaches of anti-money laundering and counterterrorist financing regulatory requirements, as well as international sanctions failures.
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.
| Technical | Effectiveness |
|---|---|
| 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 : 29/110 |
| Score : 4.61/10 |
| Rank : 42/179 |
| Score : 57/100 |
| Rank : 65/133 |
| Score : 59/100 |