FCMC to in­ves­ti­gate ABLV Bank

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Latvia’s Fi­nance and Cap­i­tal Mar­ket Com­mis­sion (FCMC) has plans to per­form an ad­di­tional in­ves­ti­ga­tion at ABLV Bank in the next cou­ple of weeks, says the com­mis­sion’s man­ager Pēters Put­niņš, adding that no op­er­a­tional re­stric­tions have been ap­plied to the bank so far.

«First of all, we have to de­ter­mine what hap­pened, es­pe­cially be­cause most of the episodes de­tailed in the re­port from the US Fi­nance Min­istry’s Fi­nan­cial Crimes En­force­ment Net­work (FinCEN) had been in­ves­ti­gated in the past. We are in the mid­dle of in­ves­ti­gat­ing spe­cific episodes. We will make our con­clu­sions based on the out­come of the in­ves­ti­ga­tion. It is a mat­ter of time,» says Put­niņš.

The of­fi­cial re­frained from dis­clos­ing any de­tails of the in­ves­ti­ga­tion.

As for the breach of sanc­tions ap­plied to North Korea, Put­niņš men­tioned that there had been no di­rect vi­o­la­tion from the view­point of Lat­vian leg­is­la­tion. «USA does not sep­a­rate vi­o­la­tion by as­so­ci­a­tion from a di­rect vi­o­la­tion. No mat­ter where the bank may be lo­cated, in­volve­ment in a breach of sanc­tions will al­ways be con­sid­ered a di­rect vi­o­la­tion. Latvia’s laws are dif­fer­ent,» he said.

He also notes that there is no proof or risks of ABLV Bank of­fer­ing bribes to any of FCMC’s em­ploy­ees. Over the course of the past two years, FCMC has put in a lot of ef­fort into mak­ing ABLV Bank add cor­rec­tions in its in­ter­nal op­er­a­tions. This is why Put­niņš says that FinCEN’s re­port about ABLV Bank is an echo from the past.

Edijs Pālens /LETA

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