Police start probe over ABLV money laundering allegations

Take note – story published 6 years and 3 months ago

The Latvian State Police has started a probe about possible money laundering schemes at ABLV Bank as suggested by a recent report of the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury.

The police spokeswoman, Ilze Jurevica, told LETA February 23 that the Latvian police had asked the cooperation partners to provide detailed information about the facts supporting the FinCEN conclusions and had also made inquiries with the Latvian financial regulator, the Finance and Capital Market Commission.

The police will make the decision after receiving this information, Jurevica said.

ABLV, one of Latvia's largest banks, has vowed to restore credibility after serious allegations of money-laundering by U.S. authorities. Its payments have been suspended by the European Central Bank.

As reported by LSM February 13, the U.S. Treasury has announced swingeing action against ABLV after unleashing a mind-boggling litany of accusations that it is involved in money laundering on a vast scale, bribery and even helping channel funds to North Korea's missile program via mysterious offshore companies on its books in defiance of international sanctions.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles


Most important