Region: Latvia

ECJ affirms ECB’s “likely to fail” powers after Latvian bank appeal

Europe’s highest court has dismissed an appeal from now-defunct Latvian bank ABLV, affirming the European Central Bank’s capacity to declare banks “failing or likely to fail”.

10 May 2021

EU Court rejects Latvian bank’s SRF repayment request

Latvian bank ABLV, whose licence was withdrawn in 2018 after US regulators designated it “of primary money laundering concern” over transactions allegedly linked to North Korea’s weapons programme, has lost its fight for its Single Resolution Fund contributions for that year to be repaid.

27 January 2021

Latvia ramps up AML push with fresh guidance

Latvia’s banking regulator has announced new anti-money laundering and counter-terrorism financing guidance, after fining local outfit Signet Bank €906,000 for AML failings.

26 August 2020

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