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Sanctions
Breach of Section 61.³(1) of the Financial Instrument Market Law and Article 19(1) of Regulation (EU) No 596/2014.
Date
08.10.2025
Status
In force
Sanctions applied
Fine of EUR 22,000 for the breach of the Financial Instrument Market Law; fine of EUR 5,500 for the breach of Regulation (EU) No 596/2014.
Breach of Section 61.³(1) of the Financial Instrument Market Law
Date
08.10.2025
Status
In force
Sanctions applied
Fine of EUR 40,000
Deficiencies of the internal control system and violations of the requirements of the laws and regulations governing the prevention of money laundering and terrorism and proliferation financing in connection with the provision of payment services in Latvia through agents.
Date
25.06.2025
Status
In force
Sanctions applied
A warning
Violations of the requirements of the laws and regulations in the field of the prevention of money laundering and terrorism and proliferation financing and sanctions risk management, including occasional transactions in cash conducted by unidentified persons.
Date
18.06.2025
Status
Adopted by Supervision Committee of Latvijas Banka
Sanctions applied
The company's business activity has been suspended, and deadlines have been set for addressing the violations.The company's business activity has been suspended, and deadlines have been set for addressing the violations.
Violation of the obligation to buy back shares laid down in Section 42 of the Share Buy-back Law.
Date
03.03.2025
Status
Contested
Sanctions applied
A warning
Breaches of the regulatory requirements regarding the prevention of money laundering and terrorism and proliferation financing
Date
20.12.2024
Status
In force
Sanctions applied
A warning
Violations of capital requirements under the Law on Payment Services and Electronic Money
Date
11.09.2024
Status
Adopted by Supervision Committee of Latvijas Banka
Sanctions applied
Warning
Section 19(3), Section 20(9) and (10) and Section 27 of the Law on Savings and Loan Associations
Date
05.06.2024
Status
Adopted by Supervision Committee of Latvijas Banka
Sanctions applied
Warning
Breaches of requirements of the internal control system in the areas of lending and investments, violations of laws and regulations in the field of risk management of money laundering, terrorism and proliferation financing, including breaches of requirements of the internal control system.
Date
26.03.2024
Status
Appealed
Sanctions applied
A fine of 31 731 euro has been imposed on Viktors Bolbats, a former Chair of the Board of Baltic International Bank SE. The Council of Latvijas Banka has decided to uphold the penalty sanction without modification in the appeal process.
Breaches of requirements of the internal control system in the areas of lending and investments.
Date
26.03.2024
Status
In force
Sanctions applied
A warning has been issued to Edgars Voļskis, a former Member of the Board of Baltic International Bank SE. The Council of Latvijas Banka has decided to uphold the penalty sanction without modification in the appeal process.
Insufficient risk management of money laundering, terrorism and proliferation financing, as well as ensuring the effective operation of the internal control system, and breaches of requirements of the internal control system in the areas of lending and investments.
Date
26.03.2024
Status
In force
Sanctions applied
A warning has been issued to Anda Saukāne, a former Member of the Board of Baltic International Bank SE who was responsible for monitoring the field of the prevention of money laundering and terrorism and proliferation financing.
Violations of regulatory requirements regarding the prevention of money laundering and terrorism financing related to the internal control system, customer base risks and their management.
Date
21.07.2023
Status
In force
Sanctions applied
Taking account of the fact that the bank's licence for the operation of a credit institution has been withdrawn and liquidation proceedings have been initiated on the basis of a court judgement, the fine applied previously has been cancelled in accordance with the administrative agreement.
Violation of the provisions of the Credit Institution Law: failure to timely submit and publish the audited annual report.
Date
15.08.2022
Status
In force
Sanctions applied
A fine of 5325 euro.
Violations of regulatory requirements regarding the prevention of money laundering and terrorism financing and shortcomings in the internal control system
Date
12.12.2023
Status
In force
Sanctions applied
A fine of 259 867 euro