HALISTER1: Latvian Bank Regulator Fines Baltic International Bank EU1.1M

Latvian Bank Regulator Fines Baltic International Bank EU1.1M

(Bloomberg) -- Latvian lender fined for previous violations of anti-money laundering and terrorism finance law discovered after Financial and Capital Market Commission conducted examination, according to e-mailed statement.
  • BIB Chairwoman Ilona Gulcaka fined EU25,000
  • Regulator declined to use maximum level of fine as bank is currently fulfilling all regulatory rules and has improved internal control systems
  • NOTE: BIB is Latvia’s 12th biggest bank by assets
  • NOTE: Fine can be challenged in administrative court
  • NOTE: Scandal-Hit Baltic Bank Shut by ECB as Watchdog Vows Cleanup
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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1047866D LR (Baltic International Bank AS)

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