Rietumu - for all victims of fraudulent account closure and theft of funds

Nicolas Rushton

New Member
If your bank account recently blocked by Rietumu bank, So your are one from thaosands victims of Rietumu fraud bank, specifically where the accounts were:

- Suddenly converted from USD to EUR
- Frozen for incoming and outgoing transfers
- Closed under Clause 15.7 (Prevention of Money Laundering and Terrorist Finance)
- Funds seized or frozen without an explanation


We have had an account with Rietumu since 2014. Running a very clean operation - all wires in and out properly documented and invoiced, no cash operations whatsoever (no cash withdrawals or deposits), maintaining proper books.

On February 2018, The banks started sending and blocked our bank accounts without any reason, And increased the monthly fee from 50 EUR to 1,000 EUR.

We send them all the documents they asked, it take one 42 days to get back with answer that need more documents (meanwhile they charge us again 1,000 EUR as fees - In total we already paid 2,000 EUR as fees for March & April 2018).
Each time we sent them documents and the processing them , they charge 500 EUR.

They delay in processing in order to squeeze us and charge us 1,000 EUR monthly fee.
They don't wanna close our bank account, until the process finished ( We don't know when ).

Is that bank normal ? They are totally CRIMINALS !!
They breaking client service terms and illegally charging us high & rediculas fees.

They think they can break the law with impunity because their victims are offshore companies. Well, not this company.
We have not broken any laws or evaded any taxes and we will not stand for it.


If you were a victim of their fraud, Please contact FKTK.lv and report this MAFIA bank:
FKTK - Contacts


Thanks
 

Dani Cristian

New Member
Hi Dani,

Can you please instruct on exact steps you took to submit your complaint to FCMC?

Is there like a webpage with a form to submit the complain or how you did it?

Are you from RO, if yes can we can in contact somehow?

Thanks
---

Unfortunately, I'm from Greece .
Just drop them a call..
Phone: (+371) 67774800
 

Bert B

New Member
Has anyone gotten the account unfrozen? For me I heard that the account will be closed by May 21st and money will be put on a "special account". No idea what they mean
 

Dani Cristian

New Member
Guys,
Please send complains to : [email protected]
More complains sent to fktk.lv , More chance Rietumu get "Sanctions imposed by FCMC".


See Sanctions in LV banks (include Rietumu):
FKTK - Sanctions imposed by FCMC


Rietumu Sanctions By FCMC:
8.10.2014. | JSC "Rietumu Banka" | Violation of the provisions of the Credit.... | Warning | In force
15.05.2015. | JSC "Rietumu Banka" | Violations of the provisions of the Law on.... | A fine of 35000 euro | In force
17.07.2017. | JSC "Rietumu banka" | A fine of 1 566 604 euro. | Warnings, issued to the AML/CTF.... | In force

Please Share !
Thank you
 

Educate

Building Trust
Entrepreneur
I'm another Rietumu victim, and for a much larger amount

Same s*it - AML, KYC documentation requests that go on forever, they take 2-3 weeks to just review the docs just to come back and ask for more stupid stuff

We have "Jelena Fjodorova" and "Anna Golovina" answering messages without giving any concrete answers or dates. Complete BS.

Ah, an of course - they charge EUR 500-900 every time they "review" some new document they asked for...in addition to a EUR 1,000/m account "maintenance" fee they just came up with out of the blue...

The irony is that they're charging fees for an account that's not even active...they have frozen all funds for credit and debit...

...yet they can debit their extortionate fees as they please!

Ridiculous

This bank is going down (insolvent) and they are trying to grab (correction: steal) every cent they can

Have contacted a few lawyers in Riga, let's sue the s*it out of these people...

and I won't stop there until they give me every single cent of my money back (including their extortionate "fees")

PM me, let's file a class action lawsuit (plus a few more "tricks" I have down my sleeve)
So what paragraph and law will you base your class action lawsuit on? They aren't doing anything illegal, since they can freeze your account under AML laws and can set their own bank commissions and fees. There is no law preventing them doing this.
 

Old Spice

Active Member
Dear client,

In our letter from March 19, 2018 on the termination of the cooperation with the shell-companies, we requested You to undergo the procedure of the enhanced due diligence until May 21, 2018.

Taking into account that the specified deadline has passed and the information available to the Bank, the preventive risk assessment has been conducted.

The Bank accepts to bear the AML risk, that has arisen in relation to the cooperation with Your shell–company, and upon the payment of the compensation for the mentioned risk and completion of other specific requirements,
to carry out the transfer of the funds to the account of Your company in another bank or to the account, from which the funds were received earlier. The transfer can be only made to the bank that is registered in the country that simultaneously is a member state of the European Union and the Organization for Economic Co-operation and Development, besides the Republic of Latvia.

In order to obtain more details, please contact Your personal manager.

Yours sincerely,
JSC "Rietumu Banka"
 

Mary Anny

New Member
I got the same email posted by Old Spice, but in addition Rietumu asked me to open a deposit account in my name for no less than 2 years with 20% of the balance of the business account, otherwise they will not let me transfer the money.

However the request to open the deposit account was not written in their email.

My question is: can Rietumu legally do that? It seems an unreasonable request. Also why they didn't write that in their email but simply requested over the phone? I think they did it not to leave sign of something they could not request.

Anyone has a professional/expert opinion?

Thank you
 

JohnD

Active Member
I got a different "deal"proposal:

ON THE COMPLETION OF THE PROCEDURE OF THE ENHACED DUE DILIGENCE
Dear client,
In our letter from March 19, 2018 on the termination of the cooperation with the shell-companies, we requested You to undergo the procedure of the enhanced due diligence until May 21, 2018.
Taking into account that the specified deadline has passed and the information available to the Bank, the preventive risk assessment has been conducted.
The Bank accepts to bear the AML risk, that has arisen in relation to the cooperation with Your shell–company, and upon the payment of the compensation for the mentioned risk, to change account status and to carry out the transfer of the funds of Your company without any limitations (in line with the existing legislation).
Based on these grounds we are ready to accept an application from You “on the completion of the procedure of the enhanced due diligence” and the final termination of the Bank and Client Agreement.

APPLICATION ON THE COMPLETION OF THE PROCEDURE OF THE ENHANCED DUE DILIGENCE

In conjunction with the notification sent by the Bank on 19.03.2018, hereby I request the Bank to:
- to complete the procedure of the enhanced due diligence based on the documents and information, that is at the disposal of the Bank at the moment of the signing of this application.
- to deduct from the current account and/or any other accounts in the Bank the remuneration of the Bank for the closure of the accounts/transfers of the funds and any other payments, related to the provision of the services to the Client in line with the Tariffs of the Bank, as well as to deduct the compensation for the risk in the amount of EUR 2500.00;
- to transfer the remaining funds and/or assets, that are held at the Bank in line with the payment order forwarded by me, after signing of the given application;
- after the transfer of the funds and/or assets, to close all of the accounts in the Bank and to deem JSC "Rietumu Banka" and Client Agreement (further – the Agreement) terminated.

Likewise I hereby confirm, that
- the only obligation of the Bank is the carrying out of the actions mentioned above;
- shall the transfer of the funds and/or assets turn out to be impossible due to the reasons that do not depend on the Bank, the Client undertakes to inform the Bank of the correct requisites;
- from the moment of the provision of the order for the transfer of the funds/assets all the obligations of the Bank in relation to the Client shall be considered fulfilled;
- the Client does not have and will not have any demands and /or claims in regard to the Bank, its officials and employees;
- all the complaints/claims/ appeals of the Client to the Bank/regulator and to the third parties, in relation to the provision of the service by the Bank to the Client, among others the completion by the Client of the procedure of the enhanced due diligence in the Bank, shall be considered to be entirely regulated and resolved between the Bank and Client, or third parties, attracted by the Client;
- the client will observe the provisions of the confidentiality and the non-disclosure, foreseen by the Agreement, among others, in relation to the completion of the procedure of the enhanced due diligence and the communication with the Bank, and likewise Client will observe the provisions of the confidentiality and non-disclosure after the termination of the Agreement;
- the given application is priority and final document in regard to the obligations of the Client towards the Bank that arise from the legal relationship in line with the Agreement. Conditions, laid down in the application prevail over the conditions of the agreements and arrangements that were signed or sent to the Bank by the Client beforehand. Likewise, the application cancels any other arrangements, oral or written between the Bank and the Client, Client and third parties in regard to the subject of the Agreement and contains the complete agreement between the Bank and the Client.
- the given application was drafted and signed in the language clear to the Client, freely and without misconception, fraud or coercion.

I've to sign or decline the above proposal, before I can do anything with the banking application.
If I agree to the above, they can charge me additional 200+VAT/hour for due diligence and there is nothing I can do about it, as I've agreed.
Also please note: the Client does not have and will not have any demands and /or claims in regard to the Bank, its officials and employees;

So once I've agreed, I have no option. They have already charged me for 2600 Eur, they want another 2500 + what ever they find appropriate for the due diligence.
Further, they have marked my account as dormant, but opened a new one (this is what I can see shimmering from behind the form) where: "The Relationship Balance criteria of 10,000.00 EUR is not secured. The missing amount - EUR 10,000.00."

For me this means, they are going to charge 4 Eur / day + another 1000 / month!

Great, welcome in EU
 

JohnD

Active Member
> It seems you requested somethin to the bank. Am I wrong?
my account was frozen and this is the message which pops over the internet banking window. You can not continue, unless you accept or decline.
I'm sorry if that was not clear from my post. I did not get a message in the standard message box, but instead this mentioned popup window / form is displayed
 

Educate

Building Trust
Entrepreneur
>- to deduct from the current account and/or any other accounts in the Bank the remuneration of the Bank for the closure of the accounts/transfers of the funds and any other payments, related to the provision of the services to the Client in line with the Tariffs of the Bank, as well as to deduct the compensation for the risk in the amount of EUR 2500.00;

Does this mean they are free to charge ANY sum + 2500.00 EUR?
 

kst2001

New Member
I got the same message as JohnD.

@JohnD - have you signed it? any other surprises after signed?

I've read the message couple of times. They will actually charge whatever they want if we sign it and we'll not be able to do much about it.

So they will charge at least 2500 EUR for sure

Looking that the Bank Tariffs page -> "Maintenance" section: Rietumu Banka - Maintenance

They could also charge :
#1: 10 % *, min 5000 EUR for -> "Penalty for the actions of the Client, which resulted in reasonable suspicion of the Bank in regard to the violations by the Client of the normative acts "

#2: 500 EUR - "Analysis of the client which resulted in a decision to terminate the relationship due to non-compliance with the Bank's Client Policy"

#3: 500 EUR - "Closing of a multicurrency account of the client which does not comply with the Bank's Client Policy"

Did anyone signed that agreement?
 

JohnD

Active Member
I've not signed it and currently I don't plan to, as I understand that text in such way, that they can charge any sum+2500 Eur. Plus they can charge 200+VAT / hour for the due diligence.
Also once, signed you can't claim anything back, what they charged or will charge.

I've googled a bit and contacted several lawyers. Two of them responded, that they have clients in the same situation.

I've reviewed terms & conditions of rietumu and they should have notify us about changing fees or about changing the terms & conditions, what they definitely did not done.

My question is - did anyone here stored old versions of the terms & conditions or old versions of the fee table ?
That would be very helpful, as I'm definitely sure the 1000 Eur/month fee was not listed just a few days ago and I think, they can't simply charge what they want.

I think, if several people here decide to hire a lawyer we can get a better deal.
 

desmond friar

New Member
the facts:

- nobody should sign or accept this "offer" as you are diminishing your rights and recourse without an appropriate quid pro quo
- excluding the lucky ones that escaped the bank bandit on this robbery highway ... there must be around 3000 of us left.
- if very few sign, the bank will be forced into making a reasonable offer - REMEMBER: reitumu is required to offload "offshore types"
... but what reitumu wants is to offload you AND take your money. - let's say fuck off to that ... together
- anybody who has signed that bullshit offer, please advise if the rip off thieves lived up to expectation and took your money
 

Educate

Building Trust
Entrepreneur
What options are there? Contacting the manager of account and telling them that FKTK said they should be closing accounts and sending us the money?
 

JohnD

Active Member
let me repeat it again - you can accept the deal, but it will definitely cost you something. In my case it means a total costs of 5100 Eur + what ever they decide to charge. Are you prepared to give up 20% of your hard earned money ?
And if you later on find out, you have been tricked into a bad deal, you can't do nothing, as you have given up your right to claim anything.

I agree with Desmond, that to sign the "offer" is a bad idea. In general, our cases are very similar, so if we take a joint action, get a lawyer to have a look at our cases, we will get a better deal.

We are all here new members, so we can not send a message to someones inbox (it's called a conversation here), but you can post on my wall, so please do so, if you are interested in a joint action.
 

desmond friar

New Member
my final 2c :
- the bank is making you sign away your rights because they intend to stick around after you leave
- they kept us waiting to suit themselves - now we must prove to the bank that they are the ones in a rush, not us
- if they could have kept your entire balance, they would have! now they have proved this is all a negotiation, so negotiate!
 
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