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According to international media reports, Havilland Bank has become a target of the European Central Bank and the Luxembourg Financial Industry Supervisory Commission (CSSF). The bank is at risk of losing its Luxembourg license and about 130 jobs will be lost.
Banking union ALEBA also heard the concerns of the bank’s 130 employees through an employee delegation. Haviland Bank, headquartered in Kennedy Avenue, Kirchberg, has subsidiaries in Switzerland, Liechtenstein and Monaco. The bank has made headlines in recent weeks due to a series of scandals.
Six years ago, the CSSF fined the company €1 million for poor management in the fight against money laundering. The bank was also suspected of actively participating in British speculation on Qatari currency, not to mention a suspicious business relationship with Britain’s Prince Andrew, money laundering in Monaco, and even tampering with the amount of losses declared by the parent company in Luxembourg.
ALEBA said they are concerned about the risks that employees may face and have asked the bank to provide a budget to properly compensate employees. President Roberto Mendolia said the bank should “secure a budget to guarantee that all employees who have been loyal to them can leave with dignity, to compensate them for everything they have given to the company. They are not responsible for what happened, we just want the company to respect the social responsibility of its employees.”
At present, the CSSF has not issued any statement.
According to various specialist media reports, Haviland Bank has already begun to wind down its operations in Liechtenstein and Switzerland, where its CEO Fabian Käslin left in April last year.
Luxembourgish video report
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