LATVIA CLOSES BALTIC INTERNATIONAL BANK FOR NOT PREVENTING MONEY LAUNDERING

On 22 December, OCCRP reported that Latvia’s financial authorities shuttered one of the oldest banks in the country, the Baltic International Bank, for its lax financial crime controls.  The bank intended to accept a financial injection from shareholders who failed to explain the origin of their money.  The bank was previously subject to several OCCRP investigations. 

https://www.occrp.org/en/daily/17199-latvia-shutters-baltic-international-bank-for-not-preventing-money-laundering

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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