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On the statement of the US Department of the Treasury on the Latvian commercial bank ABLV Bank

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13.02.2018

Press Release  

On the statement of the US Department of the Treasury on the Latvian commercial bank ABLV Bank 

This afternoon, the US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) released a statement about the Latvian commercial bank ABLV Bank AS naming it as the institution of primary money laundering concern and proposed Section 311 special measure: https://www.fincen.gov/news/news-releases/fincen-names-ablv-bank-latvia-institution-primary-money-laundering-concern-and

The Financial and Capital Market Commission (hereinafter – FCMC) can confirm the release of such statement by the US authority today. The FCMC has taken relevant supervisory actions. 

The FCMC would like to emphasize that the operation of ABLV Bank continues and the bank is responsible for further solutions management, communication and work with the authors of the statement. The bank is entitled to express its comments on the statement to the relevant US authorities within 60 days of publication.

The bank must continue ongoing work and communication with its customers, in order to provide them with all the necessary information and ensure the provision of contractual services. Customers may turn to ABLV Bank for further information.

FCMC is becoming aware of the content of documents supporting the statement, as well as actively cooperates with the European Central Bank (ECB), as the ECB exercises direct supervision over this Latvian commercial bank. 

 

For further information:

Communications Division

Financial and Capital Market Commission

Phones: +371 67774807; + 371 67774808;

Mob.: +371 29476003; +371 29467009

E-mail: agnese.licite@fktk.lv, ieva.upleja@fktk.lv