A portion of funds from a massive tax fraud in Russia that moved throughout Europe before terminating at Danske Bank in Estonia also transited through ABLV, which collapsed in February under the weight of a U.S. designation, a U.K. investor has alleged.
Latvian authorities and financial institutions have failed to protect their country from abuse by foreign money launderers, sanctions evaders and terrorist financiers, an intergovernmental group claimed Thursday.
The U.S. Treasury Department on Tuesday accused one of Latvia’s largest banks of having knowingly helped corrupt officials, arms traffickers and other criminals move profits through accounts held by foreign clients and anonymous shell companies.
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