On the revocation of banking licence and appointment of provisional administration
By Order No. OD-222, dated 5 March 2014, the Bank of Russia revoked the banking licence of the Kemerovo-based Bank Razvitiya Biznesa, a limited liability company (Bank RB), from 5 March 2014.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of Bank RB’s repeated violations over the past year of the requirements stipulated by Article 7 (excluding Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’.
Bank RB failed to comply with the requirements of legislation on anti-money laundering and combatting the financing of terrorism in respect to proper identification of its customers and submitting to the authorised body data on operations subject to mandatory control. The internal control rules at Bank RB did not correspond to Bank of Russia requirements. At the same time, the credit institution was involved in large-scale dubious cash and cashless transactions, the total amount of which stood at 4.8 billion roubles in 2013.
In pursuance of Bank of Russia Order No. OD-223, dated 5 March 2014, a provisional administration has been appointed to Bank RB for a term until the appointment of a receiver in accordance with the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator in accordance with Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In compliance with federal laws the powers of the credit institution’s executive bodies have been suspended.
Bank RB is a participant in the deposit insurance system. The revocation of the banking licence is recognised as an insured event stipulated by Federal Law No.
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05.03.2014 00.00.00