If the allegations are true, hopefully one of the biggest holes in the anti-money laundering banking world will be plugged. It involves the small European country of Latvia and the head of its central bank, Ilmars Rimsevics, who has been detained for allegedly soliciting a bribe of 100,000 Euros from a bank in the country. The U.S. Treasury has alleged that the country’s third largest bank, ABLV, has institutionalized money laundering on truly a global scale, including money laundering linked to financing North Korea’s nuclear weapon program.
