Riga, September 26, 2024 – The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced the withdrawal of a notice of proposed rulemaking against ABLV Bank, making clear that ABLV no longer constitutes a money laundering concern to the U.S. financial system. In addition, the announcement recognizes Latvia’s outstanding performance in building a robust anti-money laundering and countering the financing of terrorism (AML/CFT) regime. The U.S. Embassy applauds the Latvian government for the reforms it has passed and its regulatory institutions for their professionalism and excellence. The Embassy will continue to work closely with Latvian and global partners to protect financial institutions and deter criminal activity.
For additional details, please refer to the attached fact sheet.