Here is my story. Ive been working with this bank for 3 years with my HK company. The company is about Online Marketing Affiliation so we had advertisers and publishers mostly products to promote were android apps. They knew the business since the beginning and was well explained to them and they agreed in that moment. With ABLV situation last year they obligated to me to change all my USD which is the main currency in this business, to €. I asked them if i could stay in the bank without problems and they said my account was no resident but was ok. As I couldn’t invoice in USD anymore the activity of the company currently was low so i was speaking with them about investing in some mutual funds the relationship looked good. Suddenly like a month ago they started to do a Due Diligence to my company asking the same questions they had asked the previous years. I sent all the info required but nothing looked to satisfied them so i asked them if they where going to close my account and the said probably.
15 days ago this is what happened. They told me the account was blocked and i had only 1 month to move the balance to en EU bank account under the name of the HK company if I wasn’t able to do it every month they will deduct 10% of the balance!! My account is almost 7 figures so imagine the situation it was clearly an extortion to robe my money. I told them that this was imposible and i would need more time they told me that would think about it. Meanwhile i started to move through my contacts to have a first strategy and more or less i had everything planned to move out in not too much time. Today i asked them to please confirm the timing and then i received a call from them saying that FIU (financial intelligence unit) had decided to frozen my account because of the the new Latvian AML law and now i had 30 days to appeal to the Latvian government... I told them this makes no sense as they know the business from years and how they could have done this to me. My lawyer called them saying them that we will take all legal actions against the bank and even if posible the private banker as my money is clearly legal there are invoices from clients and providers around the world and most of them from European Union.
I want to ask here if there is anyone for example with last year Rietumu issue that had the same problem and their funds where frozen by the FIU And if there is what did they do and which was the result.
Thanks in advance.
15 days ago this is what happened. They told me the account was blocked and i had only 1 month to move the balance to en EU bank account under the name of the HK company if I wasn’t able to do it every month they will deduct 10% of the balance!! My account is almost 7 figures so imagine the situation it was clearly an extortion to robe my money. I told them that this was imposible and i would need more time they told me that would think about it. Meanwhile i started to move through my contacts to have a first strategy and more or less i had everything planned to move out in not too much time. Today i asked them to please confirm the timing and then i received a call from them saying that FIU (financial intelligence unit) had decided to frozen my account because of the the new Latvian AML law and now i had 30 days to appeal to the Latvian government... I told them this makes no sense as they know the business from years and how they could have done this to me. My lawyer called them saying them that we will take all legal actions against the bank and even if posible the private banker as my money is clearly legal there are invoices from clients and providers around the world and most of them from European Union.
I want to ask here if there is anyone for example with last year Rietumu issue that had the same problem and their funds where frozen by the FIU And if there is what did they do and which was the result.
Thanks in advance.
.
