Our valued sponsor
Rietumu - for all victims of fraudulent account closure and theft of funds
- Thread starter globalconsultancy
- Start date
They have requested to sign the following application (I declined) after the I have provided all the required documents for their made-up due diligence, after I have requested several times to close the account and to transfer all the money to another EU account opened on the name of the same company:
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 5000.00;- 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.
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 5000.00;- 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.
If you sign the document, you agree they can deduct any fee or charge of your account. They are required by law to send out your money or they will be fined heavily by FKTK.
This Application is Extortion, according to Section 183 of Latvian Criminal Law
Also, their entire action might be considered as Fraud in large scale, according to Section 177 of the Latvian Criminal Law together with Section 48 art. 3 of the same Latvian Criminal Law.
I am preparing a Criminal complaint against the Bank and against its officials.
Also, their entire action might be considered as Fraud in large scale, according to Section 177 of the Latvian Criminal Law together with Section 48 art. 3 of the same Latvian Criminal Law.
I am preparing a Criminal complaint against the Bank and against its officials.
Good, let us know how it goes. Keep us updated. We need to wreck this s**t institution.
I highly recommend to follow this advise. After informing about my intention to prepare complaints for these commissions Rietumu came very active. I got my money out in 2 days
I did the same. However, I got this message 3 days ago and money still stuck.
Please kindly be informed that Your request has been submitted to the responsible department for further consideration and response preparation. Please kindly note that the Bank gives a written reply to the complaints within 30 (Thirty) days from the day of it's receipt.
This is just ridiculous, I have had the same issue. Literally zero notice. I had the account frozen and took over 2 months to be able to gather all the documents the bank wanted. By then the bank took the liberty to charge €500 penalty for late submission of evidence they wanted and eventually even with all the documentation they asked for being sufficient the bak said that they still cannot maintain accounts for offshore companies. Then they charged another €2500 to release the funds, so that's a total of €3000 just to get my own money back from them! This is a total fraud and this bank should be investigated and shut down. Also, I still have not received the funds that were in my account.
Hmm! Looks like it's not a full member but adheres to the OECD exchange of information.
Andorra commits to automatic exchange of information in tax matters - OECD
Andorra commits to automatic exchange of information in tax matters - OECD
Rietumu Bank Completing the Termination of Cooperation with High-Risk Companies
18.06.2018
Rietumu Bank plans to conclude the termination of the cooperation with more than 90% of companies classified as a high risk customers by the end of summer. The progress made by the bank in this area has received positive evaluation of Latvian financial industry oversight bodies, as well as international partners.
Rietumu Banka made the decision to terminate co-operation with 4,000 high-risk companies in March.
All these former customers had to fulfil strict compliance procedures, confirming the legal nature of the origin of funds. Currently, already 80% of these former customers have completed the compliance process and in most cases had left the bank. Most of other customers are expected to complete the compliance procedures in July.
“The re-evaluation of our client risk profile in such a short period of time is a process of considerable volume and effort – both for the bank and the customers. It brings substantial changes to our client relationship portfolio,” says Rolf Fuls, Chairman of the Board of Rietumu. “Today, like never before, we need to focus on new directions of business. We, at Rietumu Bank, thanks to timely decisions, are focusing on the transformation of our business, opening accounts and servicing new customers”.
The progress of Rietumu has been noted by Marshall Billingslea, the Assistant Secretary of the United States Department of the Treasury, who visited Latvia in early June. M. Billingslea positively evaluated the serious approach and progress of Rietumu in implementing the business transformation of the bank. The same evaluation was also supported by Dana Reizniece Ozola, the Minister of Finance of the Republic of Latvia, who noted that “this is a positive example that confirms: if you want to change, you will be able to do it”.
As reported earlier, Rietumu has completed the first quarter of 2018 with EUR 15.7 million in net profit, which slightly exceeds the result of the same period last year. In terms of profit, Rietumu ranks second among the 18 commercial banks of Latvia.
Rietumu continues to provide all necessary information and support to customers that are currently undergoing the compliance procedures. Considering that many of these companies have started their operations in the previous years, when the requirements of the law differed significantly, some of them require a longer period of time to prepare the required documentation. Therefore, the bank uses a flexible approach within the permitted legal framework, taking into consideration the specific nature and history of each individual customer.
18.06.2018
- 80% of high-risk terminated client relationships already fully completed
- Closure of prohibited risk customers 98% completed
- Strong focus placed on new business in the Baltic States and rest of EU
Rietumu Bank plans to conclude the termination of the cooperation with more than 90% of companies classified as a high risk customers by the end of summer. The progress made by the bank in this area has received positive evaluation of Latvian financial industry oversight bodies, as well as international partners.
Rietumu Banka made the decision to terminate co-operation with 4,000 high-risk companies in March.
All these former customers had to fulfil strict compliance procedures, confirming the legal nature of the origin of funds. Currently, already 80% of these former customers have completed the compliance process and in most cases had left the bank. Most of other customers are expected to complete the compliance procedures in July.
“The re-evaluation of our client risk profile in such a short period of time is a process of considerable volume and effort – both for the bank and the customers. It brings substantial changes to our client relationship portfolio,” says Rolf Fuls, Chairman of the Board of Rietumu. “Today, like never before, we need to focus on new directions of business. We, at Rietumu Bank, thanks to timely decisions, are focusing on the transformation of our business, opening accounts and servicing new customers”.
The progress of Rietumu has been noted by Marshall Billingslea, the Assistant Secretary of the United States Department of the Treasury, who visited Latvia in early June. M. Billingslea positively evaluated the serious approach and progress of Rietumu in implementing the business transformation of the bank. The same evaluation was also supported by Dana Reizniece Ozola, the Minister of Finance of the Republic of Latvia, who noted that “this is a positive example that confirms: if you want to change, you will be able to do it”.
As reported earlier, Rietumu has completed the first quarter of 2018 with EUR 15.7 million in net profit, which slightly exceeds the result of the same period last year. In terms of profit, Rietumu ranks second among the 18 commercial banks of Latvia.
Rietumu continues to provide all necessary information and support to customers that are currently undergoing the compliance procedures. Considering that many of these companies have started their operations in the previous years, when the requirements of the law differed significantly, some of them require a longer period of time to prepare the required documentation. Therefore, the bank uses a flexible approach within the permitted legal framework, taking into consideration the specific nature and history of each individual customer.
Latest Threads
-
-
-
Biz Dev/Traffic Advice for an OTC Desk. Alpha from whales & sharks is highly welcomed & appreciated
- Started by misterman
- Replies: 4
-
-
