In the Spring of 2018 the Latvian financial industry was considerably shaken as the US Treasury Department blamed Latvian ABLV Bank for money laundering. Corruption scandal at the level of financial market supervision institution added to this turmoil. As a result of this instability, the Latvian financial market supervision institutions and legislators adopted a range of decisions that considerably restricted banks’ cooperation with non-resident customers, especially high risk clients. At this point, Rietumu Bank made a decision to considerably change its business model, focusing its activities on servicing Latvian customers and customers from other Baltic and OECD states. As part of transformation of this business model, Rietumu Bank terminated cooperation with nearly 4000 high-risk customers. This work was highly assessed by both Latvian supervisory bodies and foreign partners.