Banks, Financial Services, Latvia, Legislation, Security

International Internet Magazine. Baltic States news & analytics Saturday, 19.10.2019, 23:02

Economic police investigates eight criminal procedures on possible role of ABLV Bank and its employees in money laundering

BC, Riga, 04.10.2019.Print version
The Economic Crimes Department currently is investigating eight criminal procedures on possible role of ABLV Bank and its employees in money laundering, the police representative Ilze Jurevica informed LETA.

The police does not provide any details on the cases, including about possible suspects.


As reported, the Finance and Capital Market Commission, acting on the instructions from the European Central Bank, ordered ABLV Bank to stop all payments as of February 19 following a report by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury about ABLV Bank's involvement in international money laundering schemes and corruption. On February 24, the Finance and Capital Market Commission found an occurrence of unavailability of deposits at ABLV Bank.


Shareholders of ABLV Bank decided in February to start the liquidation process in order to protect interests of its clients and creditors. ABLV Bank believes that







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