ABLV Bank denied FinCEN's money laundering charges

On February 13^th, 2018, the financial crimes enforcement Agency of the United States Department of the Treasury (FinCEN) published a conclusion and report proposing to ban the opening or maintenance of correspondent accounts in the United States for ABLV Bank. These measures are caused by the fact that the Management suspects ABLV Bank in primary money laundering. FinCEN concludes that money laundering is the basis of the Bank's business activities. Moreover, the Bank's management allowed employees to organize schemes for all procedures.

After reviewing the proposal of the Office, ABLV Bank published a message in which it claims that it will make every effort to refute the information contained in the report. The Bank notes that FinCEN provided false information and did not take into account the work of the Bank in recent years in the field of combating the legalization of proceeds from crime and the financing of terrorism.

At the moment, ABLV Bank claims that over the past two years it has conducted several independent inspections in the field of prevention of money laundering, including in cooperation with American consultants Navigant Consulting and K2 Intelligence, whose recommendations the Bank complied with

Also the Bank asks to pay attention that it cooperates with the strategic consultant Financial Integrity Network (FIN) (USA) on compliance in the field of prevention of legalization of funds obtained by criminal means.

On materials of the following website: https://www.fincen.gov/news/news-releases/fincen-names-ablv-bank-latvia-institution-primary-money-laundering-concern-and

ABLV Bank https://www.ablv.com/ru/press/2018-02-13-o-doklade-upravlenija-ministerstva-finansov-ssha-po-borbe-s-finansovymi-prestuplenijami