Posts tagged as FinCEN

Lithuania in FinCEN dirty money trail: millions wired through now-bankrupt bank

Tuesday, September 22, 2020

The FinCEN Files, the massive leaks revealing some 2 trillion US dollars in dirty money transactions worldwide, also include banks operating in Lithuania. Between 2000 and 2017, several banks in Lithuania have received and transferred 29.9 and 41.1 million US dollars, respectively, in suspicious transactions. In some 2,500 documents leaked to Buzzfeed News and other media, 171 transactions reported as suspicious feature Lithuanian banks. Fourty-eight of the transactions totalling 16.6…

FinCEN leaks in Baltics: Latvia exposed as ‘high-risk jurisdiction’

Monday, September 21, 2020

The leaked suspicious activity reports written by US-based banks to the country’s financial crime investigators reveal that Latvia was considered a high-risk jurisdiction for years. A large trove of documents has been leaked, revealing global transactions, including those flowing through Latvia, that the US-based banks flagged as suspicious to its supervisor. The documents expose that the US banks eyed with suspicion transactions totalling at least $7.6 billions wired through Latvian…

Latvian financial watchdog approves voluntary liquidation of ABLV Bank

Wednesday, June 13, 2018

The Finance and Capital Market Commission has approved the ABLV Bank’ plan for voluntary liquidation, the head of the Finance and Capital Market Commission, Peters Putnins, announced at a news conference on Tuesday. The Latvian financial watchdog has also approved all four liquidators proposed by the bank – Arvids Kostomarovs, Andris Kovalcuks, Elvijs Vebers and Eva Berlaus. They are law and finance experts. Vebers is also an insolvency administrator. The…