The Supervision Committee of Latvijas Banka has decided to issue a warning to the electronic money institution SIA Transact Pro for failing to comply with the capital requirements established in the Law on Payment Services and Electronic Money.
SIA Transact Pro are taking measures to eliminate the violations. Furthermore, Latvijas Banka has instructed SIA Transact Pro to make appropriate changes to the internal control system within three months from the day of taking the decision by reviewing the processes of the management information system to ensure more effective planning of own funds.