The Bank of Russia has revealed 965 organizations engaged in illegal consumer lending activities in the year 2016, their number has grown twice during that year.
The Central Bank has sent 96 appeals concerning 84 banks with dubious activities to the Prosecutor General’s Office last year. In 2015 the organization had sent 65 complaints including 62 credit organizations.
“Our activities are aimed at creating the conditions under which the benefit of misconduct will be fully cancelled by the use of effective and proportionate penalties both for organizations and their staff” – the regulator’s press service said.
The Central Bank expects that the coordination of its activities with the General Prosecutor’s Office will seriously reduce the time needed to disclose crimes and collect evidence, as well as improve efficiency of considering materials and transferring them to the Court. In February VTB Bank urged the regulatory authority to clear Russia from “trash” banks.
Author: Anna Dorozhkina