Latvia wary of Russian cash influx from Cyprus

  • 2013-04-03
  • From wire reports
RIGA - Eurozone hopeful Latvia insisted it would not become the new Cyprus as rich Russians look for a new safe haven to deposit their cash, the AFP news agency reports.“Statements that Latvia could become ‘Cyprus number two’ are not true,” said the head of Latvia’s FKTK financial market regulator, Kristaps Zakulis. The FKTK said supervisory measures for monitoring non-resident money flows into Latvia are in place and asked banks this week to redouble their assessments of their customers and the quality of financial flows in view the Cyprus crisis.Th...
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