Citadele faulted on defenses

  • 2013-10-02
  • From wire report
VILNIUS - The board of the Bank of Lithuania was critical of Latvia’s Citadele bank activity after an inspection found deficiencies in the prevention of money laundering and terrorist funding, reports ELTA. The Supervision Service of the Lithuanian bank found that Citadele bank internal control procedures did not always ensure appropriate determination of customer identification and appropriate monitoring of financial operations.However, it should be noted that Citadele bank implemented immediate measures and most deficiencies have been eliminated by now.Other identified di...
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