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Minister: Latvian authorities will perform an investigation about FinCEN report

Edgars Rinkēvičs/flickr.com/Foreign Ministry.
Responsible Latvian institutions will perform an investigation in relation to the report from US Finance Ministry’s Financial Crimes Enforcement Network (FinCEN). In this report, the institution accuses ABLV Bank of bribing Latvian officials, says Foreign Affairs Minister Edgars Rinkēvičs.

«This investigation will be performed in close cooperation with US authorities to determine everything and take measures. It is in our best interest to ensure transparency and improve reputation of Latvia’s finance sector,» said the minister, adding that Latvia’s institutions act in accordance with procedures.

Rinkēvičs says that regardless of any specific cases, the stance of the Latvian government has always been strict – the matter regarding the fight against money laundering, the financing of terrorism and the financing of the production, storage, transfer, use and distribution of weapons of mass destruction is a matter of international peace and security.

«Latvia cooperates with USA very closely. This includes strengthening the regime of UN and US sanctions. Aside from that, Latvia has joined OECD Convention on Combating Bribery of Foreign Officers in International Business Transactions,» said the minister.

He also mentioned that any situations in which Latvia’s finance system is used for illegal activities in circumvention or breach of international standards or rules are unacceptable.

As previously reported, FinCEN plans to impose sanctions against ABLV Bank for money laundering schemes that helped North Korea’s nuclear arms programme, as well as illegal activities in Azerbaijan, Russia and Ukraine.


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