History
The bank was founded in 1993 on the basis of the Bank of Latvia regional branch in the city of Aizkraukle, hence the original name "Aizkraukles Banka". In the following years, the bank actively worked in the field of providing services to foreign customers. Offering them various bank products, mainly related to making payments, the bank became a notable player in the financial market. The bank was one of the first in Latvia to start development of various remote service channels, thus improving service level and ensuring rapid growth. In 2011, the bank’s name was changed to ABLV Bank, AS. Today ABLV Bank, AS is the largest independent private bank in Latvia, having representative offices of the Group in many CIS countries: Russia (Moscow, Saint Petersburg, Ekaterinburg, Vladivostok), Ukraine (Kiev, Odessa), Belarus (Minsk), Uzbekistan (Tashkent), Azerbaijan (Baku), Kazakhstan (Almaty), Tajikistan (Dushanbe). ABLV Group includes ABLV Bank, AS and more than 20 subsidiaries. Most significant among them are companies that provide brokerage and investment services, private investment fund, and advisory companies.
On February 13, the media reported that the U.S. Financial Crimes Enquiry Commission (FinCEN) analyzed the bank's activities and suggested that the agency include Latvian ABLV Bank in the list of banks suspected of money laundering.
On February 19, ABLV Bank posted information on its website that it is currently restricted from making payments.
On February 23, ABLV Bank received a decision of the Financial and Capital Market Commission (FCMC) on the "Inaccessibility of deposits".
On February 24, the European Central Bank (ECB) announced the liquidation of Latvian bank ABLV, accused of money laundering
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.
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