ABLV Bank, AS

ABLV Bank, AS was a Latvian bank headquartered in Riga and the core banking entity of the ABLV Group. It provided banking services to private and corporate customers before facing a major regulatory and compliance crisis. In 2018, the U.S. Financial Crimes Enforcement Network proposed identifying the bank as a primary money-laundering concern under Section 311 of the USA PATRIOT Act. The European Central Bank subsequently withdrew its banking authorisation, and Latvian authorities initiated liquidation proceedings. ABLV Bank no longer operates as a going concern.

ABLV Bank was a Latvian banking institution headquartered in Riga and associated with the ABLV Group. It later faced a severe crisis after U.S. and European authorities raised money-laundering and compliance concerns. In 2018, the U.S. Financial Crimes Enforcement Network proposed action against the bank under Section 311 of the USA PATRIOT Act. Amid the regulatory action and resulting liquidity pressures, ABLV Bank ceased normal operations. The European Central Bank subsequently withdrew its banking authorisation, and Latvian liquidation proceedings followed. The bank has not operated as a normal commercial bank since then.

1. 2018Regulatory Actions and Liquidation

   FinCEN proposed regulatory measures against ABLV Bank; the European Central Bank revoked its license, and Latvia subsequently pushed the bank into liquidation.

   Source

A discontinued Latvian bank brand

• 2018Money Laundering Concerns and Bank License RevocationControversy

  The U.S. Financial Crimes Enforcement Network named ABLV Bank as a primary money laundering concern and proposed measures to restrict its access to the financial system; the European Central Bank subsequently revoked its banking license, and the bank entered liquidation.

  Source

1. FinCEN Names Latvian Bank as Primary Money Laundering Concern
2. ECB withdraws ABLV Bank’s authorisation
3. ABLV Bank进入清算程序