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Latvian Gov't Holds Bank Crisis Meeting After EU Denies Aid

Law360, London (February 26, 2018, 3:22 PM GMT) -- Latvian government ministers and top regulators were meeting Monday to shore up the country’s troubled banking system after the European Union declined to rescue a leading bank linked by the U.S. to money laundering and alleged to have ties to North Korea.

Responding to the growing crisis around ABLV Bank, Prime Minister Maris Kucinskis said as he announced the meeting at the weekend that earlier efforts to tighten banking supervision had failed to prevent funds linked to money-laundering and terrorist financing from entering Latvia's finance system....
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