Legislative Amendments: Criteria and Procedures for the Transfer of Former Customers’ Unclaimed Funds to the State

On October 15, 2026, amendments to the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing entered into force. They lay down the criteria for cases where the funds remaining at the bank after the termination of business relations are due to the State.

Whom do they apply to?
If your accounts at the bank are active and you use them, these changes do not apply to you and you do not have to do anything.
This information applies solely to a small share of former customers, whose funds will be due to the State, if all of the following criteria are met simultaneously:

• a person is a legal entity regardless of its country of incorporation or a private individual other than a resident of Latvia;
• the bank has terminated business relations in accordance with the requirements of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing;
• after the termination of business relations, there are funds owned by the person remaining at the bank, which have not been claimed;
• more than five years have lapsed since the termination of business relations and the person has not withdrawn the funds from the bank.

If any of the criteria above is not met, the new procedure does not apply to you.

What must be taken into account?
If a person complies with the abovementioned criteria and does not withdraw the funds by April 15, 2027 (inclusive), they will be transferred to the State budget. The person will lose the right to claim them from the bank.
This procedure does not apply to the funds frozen, arrested or subject to collection.

How can the funds be received?
If you consider that you are entitled to the said funds, we encourage to contact the bank immediately in order to agree on the transfer of the funds to an account at another bank and meet the statutory deadline.