ECONOMY - FINANCE - BUSINESS / Banks

ECB imposes payments freeze on Latvian bank ABLV hit by accusations of money laundering

Brussels, 19/02/2018 (Agence Europe)

On Monday 19 February, the European Central Bank (ECB) announced that it had called for a moratorium on payments made by the third-largest bank in Latvia, ABLV, which has been under the supervision of the ECB since November 2014.

The ECB made its decision on Sunday and on the same day, the competent Latvian authority, the Financial and Capital Market Commission (FCMC), imposed a temporary prohibition until further notice on payments made by the bank on its financial liabilities.

This...