Procedural activities at ABLV Bank is proof of fight against money laundering - Karins

  • 2020-01-29
  • LETA/TBT Staff

RIGA - The procedural activities conducted at to-be-liquidated ABLV Bank in relation to the criminal case on laundering at least EUR 50 million is a proof of the fight against money laundering, Prime Minister Krisjanis Karins (New Unity) told the press today.

Asked whether these procedural activities might affect Latvia's international image, the prime minister said that they will serve as an evidence that Latvia is on the right path in fighting money laundering. "I fully trust our law enforcement authorities. (...) If anybody asked me how cleansing of the system looks like, I would mention this as one of the examples," said Karins.

As reported, on Tuesday, officers from the Specialized Prosecution Office for Organized Crime and Other Branches, Corruption Prevention Bureau, the State Police's Organized Crime Department, the State Revenue Service's Tax and Customs Board, and the Financial and Capital Market Commission carried out a number of procedural actions, including at least 20 searches in Latvia and, in cooperation with foreign authorities, in Belarus.

The materials in the criminal case contain information about an organized group of nationals from several countries who carried out money laundering in the amount of at least EUR 50,000,000 between 2015 and 2018, including by making transfers to one of the credit institutions of Latvia for transactions that actually did not take place.

The crimes committed by the organized group were supported by the unnamed credit institution, which is currently undergoing liquidation procedures, and its employees who eliminated obstacles to the transfer of funds, investigators believe.

It was also reported that officers of the Corruption Prevention Bureau (KNAB) were searching the premises of ABLV Bank, which is currently in the process of liquidation.