Latvia’s Anti-Money Laundering Chief Wants More Help From Banks

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Latvia’s new anti-money laundering chief pledged on Thursday to improve control of financial crime, urging the Baltic state’s banks to become more hands on in spotting and preventing it.

Ilze Znotina, who will lead Latvia’s anti-money laundering agency from June, said she wanted to change the tendency of local banks to share ‘low quality’ information with the authority about suspect transactions.

Znotina’s appointment is the latest step by the country to tighten control of its banks, after some were accused of laundering hundreds of millions of euros for wealthy Russians and others from former Soviet states.

Read the original article here: reuters.com


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