On revocation of banking licence and appointment of provisional administration
By its Order No. OD-2873, dated 16 October 2014, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Non-Bank Credit Institution UTICPAY, limited liability company, or NBCI UTICPAY LLC (Registration No.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s repeated violations within a year of the requirements of Articles 6 and 7 (except for Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes’.
NBCI UTICPAY LLC did not comply with the requirements of the legislation on anti-money laundering and the financing of terrorism in terms of timely notification of the authorised body about operations subject to obligatory control. During 2014, the credit institution was involved in dubious operations connected with overseas money transfer in significant amounts.
By its Order No. OD-2874, dated 16 October 2014, the Bank of Russia has appointed a provisional administration to NBCI UTICPAY LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.
As of 1 October 2014, NBCI UTICPAY LLC ranked 837th by assets in the Russian banking system.
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16.10.2014 00.00.00