The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on Tuesday that it is proposing the designation of a Latvian bank which dealt with North Korea as primary money laundering concern.
The issuance of a notice of proposed rulemaking (NPRM) follows FinCEN’s findings that ABLV Bank - based in Riga, Latvia - has facilitated transactions on behalf of UN and U.S. sanctioned North Korean entities and financial institutions.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on Tuesday that it is proposing the designation of a Latvian bank which dealt with North Korea as primary money laundering concern.
The issuance of a notice of proposed rulemaking (NPRM) follows FinCEN’s findings that ABLV Bank - based in Riga, Latvia - has facilitated transactions on behalf of UN and U.S. sanctioned North Korean entities and financial institutions.
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