Po­lice com­mence in­ves­ti­ga­tion on pos­si­ble money laun­der­ing schemes at ABLV Bank

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Latvia’s State Po­lice has com­menced an in­ves­ti­ga­tion about the pos­si­ble money laun­der­ing op­er­a­tions at ABLV Bank, which were re­ported by Fi­nan­cial Crimes En­force­ment Net­work (FinCEN) US Depart­ment of Trea­sury.

Po­lice have re­quested de­tailed in­for­ma­tion from ABLV Bank’s part­ners about facts based upon which FinCEN made its con­clu­sions. Fi­nance and Cap­i­tal Mar­ket Com­mis­sion has also been asked to pro­vide in­for­ma­tion. Once all in­for­ma­tion is re­ceived, po­lice will make an ap­pro­pri­ate de­ci­sion, said State Po­lice press-rep­re­sen­ta­tive Ilze Jurēvica.

As it is known, FinCEN an­nounced in the mid­dle of Fe­bru­ary that it plans to im­pose sanc­tions against ABLV Bank for sup­posed money laun­der­ing schemes that had sup­pos­edly helped North Korea’s nu­clear arms pro­gramme, as well as il­le­gal Azer­bai­jan, Rus­sia and Ukraine.

The re­port pub­lished by FinCEN de­tails that un­til 2017 the man­age­ment of ABLV Bank had been us­ing bribery to in­flu­ence of­fi­cials in Latvia in an at­tempt to avoid le­gal ac­tion and threats to its high­risk op­er­a­tions.

ABLV Bank’s rep­re­sen­ta­tives had pre­vi­ously noted that the re­port is a pro­posal from the US depart­ment. Ob­jec­tions can be submitted in writ­ten form within 60 days. The bank searches for op­por­tu­ni­ties to con­vince FinCEN to re­con­sider its pro­pos­als.


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