07
May 2026
Latvia’s financial intelligence service has flagged more than 20 companies suspected of running fake investment schemes under the country’s golden visa program.
Around 200 foreign nationals allegedly invested over €10 million in share capital that did not support any real business activity.
The investigation, first reported by Latvian public broadcaster LSM’s investigative program De Facto, found that more than 50 of these investors have already received temporary residence permits (TRPs).
When their family members are included, the total number of permit holders or applicants linked to these schemes rises to over 100.
The money circle
Latvia’s Financial Intelligence Unit (FIU) chief, Toms Platacis, told De Facto that in several cases, investors did not make the required €50,000 contribution as a single, genuine investment. Instead, they paid it in repeated,…
HOW TO SPOT A “RED FLAG” (THE BEHAVIORAL AUDIT)
Keep an eye out for these behavioral shifts in your staff:
Refusal to take leave: Afraid someone will find their “adjustments.”
Unexplained wealth: Buying luxury items that don’t match their known salary.
Working odd hours: Preferring to work alone late at night when no one is watching the system.
“Gatekeeper” behavior: Becoming overly defensive or angry when someone asks to see their records.