Alleged Money Laundering & Evasion of North Korea Sanctions

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Introduction

ABLV was Latvia's third-largest bank. In February 2018, the U.S. Treasury Department's  Financial Crimes Enforcement Network  (FinCEN) determined that ABLV had engaged in money laundering and evasion of sanctions against North Korea. FinCEN prohibited ABLV from opening or keeping a bank account in the U.S. and barred from the American financial network. On 26 February 2018 the ABLV board voted to start the process of voluntary liquidation. As of January 2020, ABLV was still operating in liquidation.