The Latvian Financial and Capital Market Commission reported that Latvian banks have frozen approximately €8 million in light of sanctions imposed on Russia by the European Union and the United States Treasury’s Office of Foreign Assets Control.
The Latvian Financial and Capital Market Commission issued recommendations for financial institutions applying non-face-to-face customer identification outlining binding requirements and strategies for identifying and managing risks associated with the process.
Latvia parts ways with FIU chief, Credit Suisse in hot water back home, and more, in the weekly roundup.
U.K judge dismisses JP Morgan Chase lawsuit, Star Entertainment Group triggers second AML investigation, and more, in the midweek roundup.
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.
|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|