Comments due on FinCEN proposal barring ABLV Bank
FinCEN has named ABLV Bank of Latvia an institution of primary money laundering concern, and has issued a finding and proposed rule seeking to prohibit the opening of a correspondent account in the United States for, or on behalf of, ABLV Bank. FinCEN's action was taken under Section 311 of the USA PATRIOT Act. Written comments on FinCEN's proposed rule will be accepted for 60 days following Federal Register publication.
Update: Scheduled for publication on 2/16/2018, with comment period ending 4/17/2018.
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