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Keywords

economic security
banks
legalization of funds
commercial banks
Latvia

Abstract

After the analysis, the authors of the study suggest their interpretation of “economic security”. They also view Latvian banks as one of the most important elements of state financial and economic security. The article focuses on the fight against money laundering. The article shows the use of Latvian normative acts on the prevention of criminal schemes for money laundering. The authors propose mechanisms for effective blocking of suspicious accounts in commercial banks in Latvia and suggest methods for their implementation in practice. As a result of these methods, criminal communities will not be able to bypass the blocking of accounts in commercial banks established by the law enforcement agencies. The arrested funds will be able to replenish the budget of the Republic of Latvia.

https://doi.org/10.34739/dsd.2020.02.04
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