ABLV Bank engages Financial Integrity Network as strategic compliance advisor

Riga, Latvia, June 6, 2017, 17:50 / Banking

ABLV Bank has engaged the Financial Integrity Network (FIN) as its principal strategic advisor on Financial Crimes Compliance and Risk Management.

As a systemically important bank in Latvia, ABLV Bank has the opportunity to play an integral role in the regional and global financial system.

FIN will advise ABLV as it continues to expand and grow its regional and global presence while assessing, managing, and addressing financial crime risk and the heightened global expectations from relevant regulatory authorities. FIN will advise ABLV Bank on its strategy to further strengthen its risk management and financial crimes compliance systems. This work will build on ABLV’s current program of enhancement and improvements in connection with a recent independent risk assessment.

FIN is a premier strategic advisory firm dedicated to helping its clients develop and strengthen the financial integrity systems and approaches necessary to succeed in today’s global security environment. ​FIN delivers an array of strategic advisory, training and technical services to a diverse and select group of governments, financial institutions, and sectoral clients.

The FIN team, led by Juan Zarate, Chip Poncy, and Daniel Glaser, is comprised of a peerless cadre of individuals who helped design and spearhead the post-9/11 counter-illicit financing regime in the United States and globally, including through senior leadership positions at:

  • National Security Council​, the White House
  • The United States Department of the Treasury's Office of Terrorism and Financial Intelligence
  • The Financial Action Task Force (FATF)

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s major shareholders Oļegs Fiļs, Ernests Bernis and Nika Berne directly and indirectly hold 87.03 % of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; Pillar Development, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, Limassol, and New York.