The Latvian parliament, the Saeima, will begin work on legislation to improve consumer protection against financial fraud, Anda Caksa, chairwoman of the parliament’s budget and finance committee, announced, LETA reports. Speaking after a meeting with representatives of the Finance Latvia Association (FNA), Caksa said that legislative changes were needed so as to require mobile operators to block spoofing calls and social media platforms to stop fraudulent advertisements, as well as to improve information coordination and introduce harsher penalties on fraudsters. Parliamentary committees will begin work on the amendments in January 2026, Caksa said. FNA board chairman Uldis Cerps agreed that clearer and stricter regulation was necessary, specifically on telecommunications providers. He linked financial fraud to issues of national security, reputation of state institutions, and public trust.
Read Less, Know More.