RIGA/FRANKFURT (Reuters) - Latvian bank ABLV said on Monday it is taking the European Central Bank to court for triggering its demise after it faced allegations of money laundering. The development is the latest challenge to the European banks supervisor over its handling of the affair, over which it has been widely criticized. Earlier this year the United States accused Latvia’s third biggest bank, ABLV, of money laundering and breaking sanctions on North Korea, prompting its closure and...

RIGA/FRANKFURT (Reuters) - Latvia’s parliament voted on Thursday to scale back domestic banks’ ties with risky shell firms under laws aimed at tackling money laundering, but pressure will remain on the Baltic state to do more. Prime Minister Maris Kucinskis vowed to improve policing of banks after the United States triggered the closure of Latvia’s third biggest bank, ABLV, accusing it of money laundering and breaching sanctions on North Korea. The scandal placed the country of two million...