Latvia’s payday loan market staves off money laundering concerns

  • 2016-11-16
  • Linas Jegelevicius
Latvia, the EU payday loan market’s leader, seems to be gripping the top spot despite the Baltic country’s restraints on the loan issuance in effect from the outset of the year. The quick loan market in Latvia increased 20 per cent in 2015, year-on-year, and although the growth this year is expected to be less robust, the prediction is that it will also be in the double digits. A worrisome sign to the Latvian economy, however, is that many borrowers are increasingly struggling with the loan repayment as some of the companies may be used as money laundering tools. The Baltic Time...
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