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Police last year arrests property worth EUR 74 million in relation to money laundering
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    Police last year arrests property worth EUR 74 million in relation to money laundering

    RIGA, Feb 13 (LETA) – The Latvian State Police last year arrested property worth EUR 74 million in relation to money laundering cases, according to the police report to the Saeima defense, interior affairs and corruption prevention committee.

    In total, the police registered EUR 37.4 million of laundered money.

    The police last year launched 48 criminal procedures on money laundering, which is by six cases less than in 2016. In total 123 cases of money laundering were registered.

    During investigation, the police discovered that the largest incoming financial flows come from Lithuania, Russia, Ukraine, Estonia, the UK and Germany, while the largest outgoing flows go to Lithuania, Germany, Poland, Russia and Estonia.

    State Police chief Ints Kuzis said at the committee meeting that there are large sums of money circulating in Latvian banks, and some of that is laundered money. Also, according to the information provided by Europol, the EU Agency for Law Enforcement Cooperation, Baltic banks are attractive to money laundering rings.

    • Published: 13.02.2018 12:23
    • LETA
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