How a Tiny Latvian Bank Became a Haven for the World’s Dirty Money26 Mar 2018—The Wall Street Journal
RIGA, Latvia—A few years ago, U.S. Treasury officials noticed a troubling undertow in the world’s financial currents. Shell companies were shifting billions of dollars through a little-known bank in Latvia, a former Soviet state of two million people.
Treasury officials say they concluded the institution, ABLV Bank, was laundering money for corrupt clients in Russia, Azerbaijan and Ukraine.
Late last year, the officials say they found more: North Korea’s nuclear missile program was using...
How a Tiny Latvian Bank Became a Haven for the World’s Dirty Money26 Mar 2018—The Wall Street JournalRIGA, Latvia—A few years ago, U.S. Treasury officials noticed a troubling undertow in the world’s financial currents. Shell companies were shifting billions of dollars through a little-known bank in Latvia, a former Soviet state of two million people. Treasury officials say they concluded the institution, ABLV Bank, was laundering money for corrupt clients in Russia, Azerbaijan and Ukraine. Late last year, the officials say they found more: North Korea’s nuclear missile program was using...
Senior Reporter at WSJ
Editor, US Markets and Companies at Financial Times