Press Release
FCMC Board adopts methodology for screening ABLV Bank AS customers
The Board of the Financial and Capital Market Commission (FCMC) at today's extraordinary meeting decided to adopt the methodology for screening the customers of ABLV Bank, AS in liquidation (hereinafter – the Bank) submitted by the liquidators of the Bank. The methodology has been already approved by the Office for Prevention of Laundering of Proceeds Derived from Criminal Activity (Control Service) by making appropriate amendments during the methodology development process.
On 5 March 2018, the decision of the Bank's shareholders meeting on the voluntary liquidation process, as well as draft self-liquidation plan was submitted to the FCMC. Whereas on 12 June 2018, the FCMC Board approved the Bank's voluntary liquidation plan. A team of sworn auditors from the international company Ernst&Young developed the methodology for the AML/CFT and sanctions compliance checks to prevent possible AML and violation/circumventing of sanctions compliance provisions in the course of pay-outs to the Bank's customers.
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