VEF Banka

"The Financial Crimes Enforcement Network is issuing a final rule imposing a special measure against joint stock company VEF Banka (“VEF”, “VEF Bank”, or the “bank”) as a financial institution of primary money laundering concern, pursuant to the authority contained in 31 U.S.C. 5318A of the Bank Secrecy Act."; "VEF is headquartered in Riga, the capital of Latvia. VEF is one of the smallest of Latvia’s 23 banks, and in 2004 was reported to have approximately $80 million in assets and 87 employees."; "we are prohibited from opening or maintaining a correspondent account for, or on behalf of, VEF Bank (Republic of Latvia) or any of its subsidiaries (including Veiksmes līzings)."

"FinCEN is issuing this notice of proposed rulemaking to impose a special measure against joint stock company VEF Banka (VEF) as a financial institution of primary money laundering concern, pursuant to the authority contained in 31 U.S.C. 5318A."; "VEF is headquartered in Riga, the capital of the Republic of Latvia. VEF is one of the smallest of Latvia's 23 banks, reported to have approximately $80 million in assets and 87 employees."

"At the time of issuance of the final rule on July 13, 2006, VEF Banka was headquartered in Riga, Latvia. VEF Banka was one of the smallest of Latvia's 23 banks, and, in 2004, was reported to have approximately $80 million in assets and 87 employees."; "On May 26, 2010, VEF Banka's Latvian banking regulator, the Financial and Capital Market Commission (the “FCMC”), revoked VEF Banka's operating license on the grounds that the shareholders of the bank had not received authorization from the FCMC for the acquisition of qualifying holdings and the bank failed to ensure compliance with provisions of the Credit Institution Law."; "On November 15, 2010, the Riga District Court issued a non-appealable order to begin liquidating the bank."