U.S. proposes sanctions on the Latvian ABLV Bank* 
over money-laundering concerns. The U.S. is seeking to impose sanctions on ABLV Bank, the third largest financial institution in Latvia by assets, by prohibiting the bank from opening or maintaining a correspondent account in the United States due to money laundering concerns, the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said on Tuesday…RIGA-Reuters
US treasury bans latvian bank over money-laundering concerns

According to Association of Latvian Commercial Banks, ABLV is the third largest bank in Latvia with assets of around 3.6 billion euros in September 2017.
ABLV NPRM 2018-02-12 * Currently, ABLV Bank, AS is the largest independent private bank in Latvia, having representative offices of the Group in many CIS countries. The bank’s controlling interest is held by Ernests Bernis and Oļegs Fiļs. The bank’s other shareholders include top management, employees, and the bank’s long-term partners and customers.

ABLV Bank is a member of the Association of Latvian Commercial Banks, which protects interests of Latvian banks both in domestic and foreign markets, certifies banking specialists, and arranges professional seminars. Also, ABLV Bank takes active part in operations of other professional institutions, which aim at developing Latvia as regional financial centre.