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Monday 19.03.2018 | Name days: Jāzeps

Inspection launched at Rietumu Bank in relation to account associated with Donetsk People’s Republic

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUFinance Capital and Market Commission has commenced an inspection at Rietumu Bank in relation to an account that was opened to gather finances for self-proclaimed Donets People’s Republic, as noted by FCMC Communications Department manager Laima Auza.

«Before providing detailed commentary on this case, FCMC has to check information that was leaked to the public. This is why an inspection has been launched at Rietumu Bank,» said Auza. According to publicly available information, British licensed electronic payment processing company PSI Pay LTD, which offers services in EU member states in accordance with the principle of freedom to provide services. The licence was issued to the company by British FCA (Financial Conduct Authority). «This means we will likely require international assistance,» adds Auza.

She also notes that FCMC refrains from providing comments or assumptions before the truth is uncovered and a full inspection is performed at the bank.

Rietumu Bank’s press-secretary Eleonora Gailiša notes that not long ago the bank received information that the bank is being used to gather finances for one of Donetsk People’s Republic representative offices in Europe, which is breach of Europe’s sanction regime.

«An internal investigation has been performed at the bank. Results showed that this information is not true,» said Gailiša.

According to her, it was determined during the investigation that a call was published on some website, requesting donations for journalistic work. A number of an electronic wallet was posted as well. This number was traced to a British company under supervision by the British FCA. This company is subject to international law, including the section regarding client identification and money laundering prevention. The bank contacted the client, who provided all the necessary information in relation to the owner of the electronic wallet in question as reported activity involving it.

«The bank has received from its British client information that none of the transactions associated with the electronic wallet in question bear no signs of breach of regulations. For the duration of the investigation, our client has blocked the electronic wallet in question,» says Gailiša.

She adds that Rietumu Bank has informed Latvian authorities about results of the internal investigation. The bank has not yet received any additional questions in relation to this case.


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