May 25, 2022

Banking in Russian: “November was already at the yard ...” and minus 8 banks already ...

In continuation of the topic about bill risks on 115fz - https://smart-lab.ru/blog/576543.php I offer a review on reviews and revocation of licenses for november 2019

Settlement Non-Bank Credit Organization West LLC - 11/22/2019 - order
The credit institution did not identify transactions subject to mandatory control, and provided false information to the authorized body;
-conducted dubious foreign exchange transactions;
- violated federal laws governing banking activities, as well as Bank of Russia regulations
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JSC "Kredprombank" - 11/22/2019 order
- committed violations of the law in the fieldcombating the legalization (laundering) of proceeds of crime and the financing of terrorism. The credit institution submitted false information to the authorized body on operations subject to mandatory control;
-conducted dubious transit operations, including those related to the withdrawal of funds abroad and their cashing out;
- violated federal laws governing banking activities, as well as regulatory acts of the Bank of Russia,
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LLC CB “Kreditinvest” - 11/15/2019 order
- committed violations of the law andBank of Russia regulations in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism. The credit organization submitted to the authorized body incomplete and inaccurate information, including on operations subject to mandatory control;
- conducted dubious cross-border operations;
- violated federal laws governing banking activities, as well as regulatory acts of the Bank of Russia
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JSB Devon-Credit (PJSC) and PJSC Lipetskcombank on November 15, 2019 joined the Zenit Bank and surrendered their licenses.
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JSCB ChUVASHCREDITPROMBANK PJSC - 11/07/2019 order

- committed violations of the law andBank of Russia regulations in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism. The credit organization submitted to the authorized body incomplete and incorrect information, including on operations subject to mandatory control;
- conducted dubious operations related to the sale of cash foreign currency;
- allowed violations of the procedure for calculating capital and underestimated the amount of reserves necessary for the formation of possible losses;
- violated federal laws governing banking activities, as well as regulatory acts of the Bank of Russia,
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JSC "Danske Bank" 11/01/2019 - Self-liquidation order
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JSC "Expert Bank" 11/01/2019 - here I feel it, there will be a corner)))) order

- committed numerous violationslaws and regulations of the Bank of Russia in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism. The credit organization submitted to the authorized body incomplete and inaccurate information, including on operations subject to mandatory control;
- conducted dubious operations related tothe sale of foreign currency in cash, the withdrawal of funds abroad, as well as operations with securities showing signs of substitution of transit cash flow with non-cash compensation for the sale of cash proceeds by retail and retail enterprises;
- violated federal laws governingbanking, as well as Bank of Russia regulations, in connection with which the regulator has repeatedly applied measures to it over the past 12 months, including introducing restrictions on attracting funds from individuals.

Conducted by the Bank of Russia with creditorganization to improve anti-legalization procedures did not lead to proper adjustment of the activities of Expert Bank. Organization of internal control in the bank is recognized as ineffective. Moreover, a number of circumstances testified to the deliberate involvement of the credit institution in carrying out dubious operations and the lack of intentions of its management to take effective measures aimed at stopping such activities.

Information about the bank’s dubious operations was forwarded by the Bank of Russia to law enforcement agencies.