The Financial and Capital Market Commission (FCMC) has imposed a fine of 305,000 euros on Latvijas Pasta Banka for the bank’s failure to comply with requirements aimed at preventing money laundering and terrorist financing.
FCMC representatives told LETA that when setting the size of the fine, the regulator took into consideration the bank’s financial results, as well as the fact that the bank has admitted its flaws and committed to taking the necessary measures to deal with them and improve its internal control system.
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