24 Dec 2018
Latvia’s Financial and Capital Market Commission (FCMC) has penalised BlueOrange Bank around €1 246 798 in a settlement regarding the prevention of money laundering and terrorism funding.
The bank reportedly had failings on issues pertaining to identifying suspicious transactions, amongst other issues.
Dmitrijs Latisevs, CEO of BlueOrange Bank, quoted in Reuters, said: “Since 2017, we have improved our internal control systems … We have significantly improved all these deficiencies.”
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