Financial Services, Latvia, Legislation, USA

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 09:42

U.S. ambassador: Latvia still has a lot of work to do in cracking down on money laundering

BC, Riga, 02.03.2016.Print version
Latvia still has a lot of work to do in cracking down on money laundering, the U.S. Ambassador to Latvia Nancy Pettit says in an interview with the Latvijas Avize newspaper, cites LETA.

The United States has a high opinion of Latvia's contribution to the fight against money laundering and other illegal financial activities, says the ambassador. Latvia has achieved very much during the past ten years in stepping up its measures against money laundering, which has helped the country's economic development and made it a more attractive place for investment.

 

According to Pettit, the United States welcomes recent criminal proceedings against several persons and companies implicated in money laundering. However, Latvia still has a lot of work to do. Ensuring transparency and the rule of law will reduce corruption, contribute to faster economic development, and improve living standards in Latvia, emphasizes Pettit.






Search site