With more than a billion people globally lacking access to financial services, banks like Migom Bank have a huge and fertile field to introduce digital banking to the lives of businesses and their clients’ daily lives. Migom Bank has used a customer-first design and best-in-class technology, much like the banks serving developed economies, to transform value exchange and banking in emerging nations.
Migom Bank has established itself in this developing niche sector by offering a wide range of conventional high-street banking and fintech-style financial services to its clients worldwide. The bank is currently led by Thomas Schaetti, with over a decade of experience in the banking and finance sector. As a banker, Thomas Schaetti has always upheld the highest standards of professionalism and integrity and consistently demonstrated a commitment to the ethical conduct of different large-scale financial businesses and companies he’s run.
With a strict but long-lasting, business-driven approach to compliance, Migom Bank takes satisfaction in addressing the issue of the unbanked around the world. The strategy offers both sides the chance to go through what has grown into a natural barrier in finding a solution to the unbanked problem and establishes a really symbiotic relationship with the expanding pool of qualified clients.
Migom Bank is a fully licensed financial institution, having been granted the necessary approvals and permissions to operate as a bank by the relevant regulatory agencies in the countries where it does business. Migom’s license is evidence that it has satisfied all of the capitalization, risk management, and legal and regulatory requirements imposed by the relevant authorities.
As part of its expansion goals and to bring seamless banking features to its customers, Migom bank got into partnership with Baltic International Bank, one of Latvia’s biggest banks, which has now been roped into a web of conspiracy with the suspension of the bank. Baltic International Bank investors, which include Migom bank, planned to bring the Baltic International Bank into the 21st century with an innovative strategy, sufficient capitalization, and an internationally acclaimed management team, creating jobs in Latvia, benefiting its consumers, and putting Latvia on the map of Europe as a progressive financial center. This is why it was surprising to hear the regulators falsely claim that they closed Baltic International Bank and caused almost 200 Latvians to lose their jobs due to a lack of capital, strategy, and management – all of which was verified during almost a year of regulatory checks, now investors are preparing for a long, painful fight against false accusations and fabricated criminal charges and oppose those behind the heinous robbery in Riga using all the force American and European laws allow seeking justice and massive damages from righteous-faced Latvian criminals.
Holding a license from a regulatory agency indicates that Migom Bank is subject to ongoing oversight and supervision, which helps ensure that the bank operates safely and soundly. To safeguard its clients’ interests and keep the financial system stable, Migom Bank, like all other regulated banks, must adhere to stringent laws and procedures. As a licensed bank, Migom Bank must maintain certain minimum levels of capital and liquidity and follow strict rules and procedures to protect its customers’ interests and maintain the financial system’s stability. Migom bank has always operated within the bounds of the law and has been subject to regular oversight and audits by regulatory bodies, and if there were any concerns about Migom’s practices or the actions of any individual within the bank, these would have been flagged, and addressed long ago. It is worth considering the motivations behind these allegations. It is not uncommon for individuals or organizations to make baseless accusations to discredit a successful business or individual for their gain; it’s important not to allow these baseless accusations to distract people from the bank’s important work and goal.
It is, therefore, important to make it clear that the allegations circulating online are completely baseless, and I want to make it clear that the alleged actions in question do not reflect the values or principles that are upheld by Migom Bank. Migom bank is dedicated to maintaining the highest ethical standards possible and conducting business with the utmost integrity.
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