Abstract
Money laundering in Latvian law is considered a criminal offence against the interests of the financial system and the administration of justice. However, money laundering may also affect the property interests of the victim of a predicate offence whose assets due to money laundering have become unrecoverable. The study examines whether the victim can claim compensation from the launderer under Latvian law compared to Swiss and German laws. The results show that Latvian courts do not consider money laundering activities to cause economic losses to the victim, thus excluding compensation. However, payment of the value of the laundered assets may be ordered for the benefit of the victim. In contrast, Swiss and German courts acknowledge economic losses stemming from the money laundering itself, which provides a basis for compensation. Both approaches lead to different legal issues, which are analysed.