ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering
The European Central Bank has ordered financial regulators in Latvia and Luxembourg to close a Latvian commercial bank accused of large-scale money laundering by the US Treasury.
The ECB’s supervisory arm says in a statement issued on February 24 that it had determined on the previous day that ABLV Bank was “failing or likely to fail”, along with its Luxembourg-based subsidiary. The ECB describes ABLV as Latvia’s third-largest bank, and directly supervises ABLV because of its size. It had
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com