European authorities will close ABLV Bank AS, the Latvian lender facing U.S. accusations of money laundering tied to North Korea.
The European Central Bank (ECB) spearheaded the aggressive step to rein in the turmoil in Latvia, which third-largest bank was failing or likely to fail. The ECB froze all ABLV payments after the allegations triggered an exodus of deposits. Previously, Bank of Latvia Governor Ilmars Rimsevics was detained and then released amid bribery allegations in connection to the ABLV Bank AS accusations.
Despite ABLV saying ...
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