Crime, Financial Services, Latvia, Legislation, Markets and Companies

He said that the crime groups in areas such as drug trafficking and distribution, the sale of contraband goods, cyber-crimes as well as other criminal activities.

The head of the State Revenue Service's Customs Criminal Administration Edijs Ceipe that there are several ''sting'' operation currently being carried out against criminal groups, and that seven criminal smuggling groups have been uncovered already this year.

State Revenue Service Financial Police Chief Kaspars Podins points out that his department detains on average about ten criminal groups a year for tax related crimes. He added that his department has already uncovered seven criminal groups this year as well, but that the leaders of these groups continue their criminal activities even after they are caught, as the punishment for such crimes remains soft.

''Busting one criminal group is like throwing a plate against the wall, which then breaks into smaller pieces. Taking into account that the punishment for such crimes are relatively soft, these criminal groups continue their activities even after they are caught. Unfortunately, our criminal law ensures jail sentences for lesser crimes, but persons convicted of crimes related to money laundering and tax evasion frequently get off with suspended sentences,'' Podins said.

The committee today reviewed the Interior Ministrys organized crime prevention plan for 2014-2016, which foresees an additional EUR 9.48 million in budget funding to be implemented.