🕵FinCEN proposes ban on Latvia bank for money laundering risks .
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed designating a leading Latvian bank as a primary money laundering concern because of alleged connections with North Korea and with criminals in Russia and other countries.
FinCEN said ABLV Bank has facilitated transactions on behalf of UN and U.S. sanctioned North Korean entities and financial institutions.
The FCPA Blog
FinCEN Names ABLV Bank of Latvia an Institution of Primary Money Laundering Concern and Proposes Section 311 Special Measure | FinCEN.gov