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Latvia’s financial regulator will over the next few months examine domestic banks and punish those that fail to assess shell companies, fiduciary trusts and foreign politicians as high-risk clients, a senior official told ACAMS moneylaundering.com. The new focus of on-site and desk-based supervisory reviews of Latvia’s 17 banks is one component of the government’s multipronged strategy to restore confidence in the Baltic nation’s financial sector after U.S. officials blacklisted its third-largest lender, ABLV, as a “primary money laundering concern” last month. Since 2015, the Latvian Financial and Capital Market Commission, or FKTK, has required domestic banks to segregate customers into...