Ilze Znotina, Head of Latvia’s Financial Intelligence Unit (FIU), has revealed in an interview that the Latvian gambling industry has also been used for money laundering.
“Unfortunately, it is clear that the gambling sector has also been used for money laundering purposes,” Znotina said.
Znotina, however, said she could not reveal the details, and that the conclusions and results would be released later.
Znotina said that the FIU had developed very close and successful cooperation with the Lotteries and Gambling Supervision Inspection. However, the gaming industry is large, it turns over a lot of money and there are some companies in the industry that have come under close scrutiny.
The work that the FIU is currently doing could lead to changes in the supervisory and crime prevention systems, Znotina said.
Nevertheless, the banking sector will always be the main platform through which attempts are made to launder money, Znotina explained.