LHV Pank is a bank based in Estonia, a country known for its innovative approach to banking and finance. Estonia is one of the most digitally advanced countries in the world.
LHV Pank is a part of Estonia's banking system, which is heavily regulated by the Financial Supervision Authority (FSA). The FSA ensures that all banks in Estonia, including LHV Pank, operate within the country's strict banking regulations.
Estonia's banking regulations are designed to protect consumers and prevent money laundering. One way LHV Pank complies with these regulations is by implementing robust anti-money laundering (AML) policies.
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IBAN Information
If you're looking for your LHV Pank IBAN number, you can work it out based on the example provided, which breaks down the IBAN into its components. The IBAN for LHV Pank in Estonia consists of 20 characters.
You can find your IBAN by logging into LHV Pank online banking or checking your bank statement. This will give you the necessary details to calculate your IBAN. The IBAN contains all of the country, bank, and account details you need to send or receive money internationally.
To calculate your IBAN, you'll need to know the country code, check digits, bank code, branch code, bank account number, and national check digit. The country code for Estonia is "EE". The check digits are 2 digits, and the bank code is 2 characters from LHV Pank's bank code.
Here's a breakdown of the IBAN components:
If you're unsure about your IBAN, it's always best to check with your bank or ask the recipient to provide the details you need. This will ensure that your payment is processed correctly and reaches the right account.
Estonia Banking Requirements
LHV Pank is a licensed bank in Estonia, which means it meets the country's strict banking regulations.
To open a bank account in Estonia, you'll need to provide identification documents, such as a passport or ID card, and proof of address.
The bank's online banking platform is user-friendly and allows for easy account management, but it's worth noting that some features may require a visit to a local branch.
IBAN Code for LHV in Estonia
If you're planning to make or receive an international money transfer in Estonia, you'll need an IBAN code. The IBAN code for LHV Pank in Estonia consists of 20 characters.
To break it down, the IBAN code has several components: a 2-letter country code, 2-digit check number, 2 characters from the LHV Pank's bank code, 2-digit code for the bank branch, 11-digit code for the bank account number, and 1-digit code for the national check digit.
Here's a table showing the components of the LHV Pank IBAN code in Estonia:
The full LHV Pank IBAN code in Estonia would look like this: EE38 2200 2210 2014 5685.
The Actions Attributed
LHV failed to properly apply due diligence measures, allowing payments from Russian companies to be made into its client's account. These payments totaled approximately €2.2 million and should have been frozen.
The court ruling highlights that LHV had previously identified similar breaches and notified the FIU on 65 occasions between 05.03.2022 and 13.05.2022. This shows a pattern of non-compliance with targeted financial sanctions.
Additional reading: Lhv vs Hhv
LHV also failed to properly apply due diligence measures, resulting in a violation of Russia-related targeted financial sanctions and the acceptance of deposits to a Russian resident. This resident's account balance totaled more than €100,000.
LHV froze an incoming payment from a Russian company to its client on 13.01.2023, but did not submit the corresponding report on the application of financial sanctions or the suspicion of financial sanctions to the FIU.
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LHV Pank News
LHV Pank has a dedicated news section where customers can stay up-to-date on the latest news and developments.
The news section covers a range of topics, including market analysis and economic trends.
LHV Pank customers can access the news section through their online banking platform.
By staying informed, customers can make more informed financial decisions and manage their finances more effectively.
Frequently Asked Questions
Which bank name is LHV Pank?
LHV Pank is the bank name. It's the third largest bank in Estonia.
How safe is LHV Bank?
LHV Bank's assets are protected by a robust system of internal controls, equity capital, and state-backed investor protection, ensuring a high level of safety for customers' deposits. Your money is safeguarded by a triple-layered protection system.
Who owns LHV Pank?
LHV Pank is primarily owned by Rain Lõhmus and his related parties, holding 21.18% of the share capital, and Andres Viisemann and his related parties, holding 11.04%. Key shareholders have significant influence over the bank's operations.
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