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Bank of Russia Revoked the License From the Dagestan Bank
January 23, 2015 17:45


(Source: http://news.rambler.ru/12852152)

The order issued by the Bank of Russia revoked the license for banking operations from the Dagestan Bank “Adam International” (Makhachkala). The reasons for revocation included the violations of the law “On countering legalization (laundering) of proceeds from crime and terrorism financing”.

“JSCB “Adam International” did not comply with the law on countering the legalization (laundering) of proceeds from crime and terrorism financing, including the timely referral of information on transactions subject to mandatory control to the authorized agency.

Besides, the credit institution was involved in conduction of doubtful cash transactions” - the report of CB says. At the same time and for the same reasons the license was revoked from “Intercapital Bank” (Saransk). The report of the Central Bank noted that the bank not only failed to comply with the legal requirements on countering money laundering of criminal proceeds, but also was involved in conduction of “doubtful transactions on withdrawal of large amounts of cash abroad”.
 

In the autumn of 2014 “Intercapital Bank” announced closing down of several of its operating and credit and cash offices in Moscow, St. Petersburg, Lipetsk, Belgorod and Tambov. At the moment the Central Bank gave the powers on managing both banks to the temporary administration. According to the volume of its assets, “Intercapital Bank” took the 602th place in Russia on December 1, 2014, the Bank “Adam International”, in its turn, took 786th place. “Intercapital Bank” is not a participant of the deposit insurance system, “Adam International” JSCB is a part of it, therefore its depositors will be entitled to receive 100% compensation of all their accounts (deposits) in the bank, including those opened for carrying out entrepreneurial activities, but not exceeding 1.4 million roubles.




Author: Anna Dorozhkina

Tags: Central Bank     

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