Lithuanian Financial Authorities Froze 90 M Euros as Suspicious Funds

The Lithuanian Financial Intelligence Service demanded that the local bank AB LV freeze funds, for a total of 90 million euros. The reason for this decision is suspicious financial transactions and the origin of funds that cannot be verified. These measures have caused a problem for 3,000 clients, whose deposits total 2 billion euros.

According to local media, before paying off the deposits of more than 100 thousand euros, AB LV representatives carry out an audit to prevent money laundering. The reason for this is claims from the Department of Combating Economic Crimes under the US Treasury. Due to such actions, the value of funds held by a financial institution decreased by 3.8 million euros. They promise to make the first payment in the bank in early autumn.

The Financial Intelligence Agency has suspected a complete lack of suspicious transaction reports for June. AB LV does not comment on the situation. The only information from the support service is the priority for the payment of funds to low-risk customers.

Today, the Financial Security Service carries out an analysis of AB LV clients and persons who may be associated with them. Now the authorities have received a huge amount of information, the verification of which may require up to 3 years.

Law&Trust specialists offer their services to customers who have problems with banks. We will represent your interests in negotiations with financial organizations and will do our best to resolve the conflict in a pre-trial manner. If this does not work out, we will represent the interests of clients in court and will do everything in order to achieve the satisfaction of your claims.