Posts tagged as Financial and Capital Market  Commission

Latvian regulator issues warning about British-registered company

Tuesday, March 30, 2021

Latvia’s banking regulator, the Financial and Capital Market Commission (FKTK) warned March 29 about a British-registered financial services company that has reportedly been trying to do business in Latvia illegally. “[The FKTK] has received information that the services of BEDFORD PAY LTD, an electronic money institution  licensed in the United Kingdom  , are being actively offered to Latvian residents. The Commission warns that since 01.01.2021 BEDFORD PAY LTD does not have the right…

Latvia: Regulator fines Citadele bank nearly 650,000 euros

Monday, May 4, 2020

Latvia’s financial regulator, the Financial and Capital Market  Commission (FKTK) said April 30 it is fining retail bank Citadele nearly 650,000 euros for failures in its approach to countering money laundering. “In 2018, the FKTK carried out a regular on-site inspection of the Bank, identifying certain shortcomings in the field of anti- money laundering, counter-terrorism and counter-proliferation financing (AML/CTF/CPF),” FKTK said. “The Bank had not provided for sufficient operation of individual…