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ABLV Bank chief compliance officer quits amid money laundering probe

Jaclyn Jaeger | February 23, 2018

ABLV Bank announced the resignation of its chief compliance officer, Aleksandrs Pāže, at a time when the bank finds itself in hot water for alleged money laundering.

“My decision is based on the statement of the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) released on 13 February regarding ABLV Bank,” Pāže said. “I am confident that my work in the field of prevention of money laundering and terrorism financing and in the field of controlling fulfilment of sanctions has always been in compliance with the provisions of the law and international best practices.”

“ABLV Bank has done tremendous work to comply with all international regulations and requirements regarding this issue,” Pāže added. “Given the complicated situation and the need to create maximally favorable conditions for the stabilization... To get the full story, subscribe now.