April 23, 2024

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

Continuing the topic about Bill of Exchange risks under 115FZ – https://smart-lab.ru/blog/576543.php I offer an overview of reviews andrevocation 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 questionable foreign exchange transactions;
- violated federal laws regulating banking activities, as well as regulations of the Bank of Russia
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JSC "Kredprombank" - 11/22/2019 order
— committed violations of legislation in the fieldcombating the legalization (laundering) of proceeds from crime and the financing of terrorism. The credit institution provided the authorized body with false information on transactions subject to mandatory control;
-conducted dubious transit transactions, including those related to the withdrawal of funds abroad and their cashing;
- violated federal laws regulating banking activities, as well as regulations 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 institution provided incomplete and unreliable information to the authorized body, including on transactions subject to mandatory control;
— carried out dubious cross-border transactions;
— violated federal laws regulating banking activities, as well as regulations 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 "CHUVASHKREDITPROMBANK" PJSC - 07.11.2019 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;
— carried out dubious transactions related to the sale of cash foreign currency;
— committed violations of the procedure for calculating capital and underestimated the amount of reserves necessary for the formation of reserves for possible losses;
— violated federal laws regulating banking activities, as well as regulations 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" 01.11.2019 - here I feel 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;
— carried out dubious transactions related tosale of cash foreign currency, withdrawal of funds abroad, as well as transactions with securities that have signs of replacement of transit cash flow with non-cash compensation for the sale of cash proceeds by trade and retail enterprises;
— violated federal laws governingbanking activities, as well as regulations of the Bank of Russia, in connection with which the regulator has repeatedly taken measures against it over the past 12 months, including introducing restrictions on raising 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.