Crime, Financial Services, Latvia, Legislation

The public media portal lsm.lv reports that the searches took place at addresses related to ABLV Bank and this was one of the largest searches in Latvia's history.

Searches and proceedings took place at 46 bank-related addresses. About 300 law enforcement officers took part in them.

State Police spokeswoman Simona Gravite confirmed to LETA that the State Police, in a previously initiated criminal process of the Economic Crime Department for large-scale money laundering, today, in cooperation with the Special Prosecutor's Office for Organized Crime, the Financial and Capital Market Commission, State Revenue Service the and information technology security incident prevention institution Cert.lv, conducted more than 40 searches in various places in Riga and the Riga region.

Searches take place at the credit institution, at various companies and at the workplaces and residences of various persons.'

Several people were also detained.

At present, the police are not commenting further in the interests of the investigation.