Complete Payment Systems’ and ‘Money Express were withdrawn from the Latvian register of licence payment services providers.
As per reports, one of the entities was recently fined for shortcomings on its AML controls while the second one failed to produce a relevant customer risk assessment.
The lack of governance; risk assessments and appropriate measures to comply with AML regulations were capital to the decision.
Both entities stated not to have outstanding obligations towards customers at the moment of withdrawal.
Source
https://www.riskscreen.com/kyc360/news/regulator-deletes-two-latvian-e-transfer-firms-from-register/
