Banking licence of NCO Premium (LLC) revoked
By its Order No. OD-2473, dated 17 December 2021, the Bank of Russia revoked the banking licence from the Moscow-based Non-bank credit organisation Premium (Limited liability company) or NCO Premium (LLC) (Registration No.
The Bank of Russia made this decision in accordance with Clauses 6 and 6.1, Part 1, Article 20 of the Federal Law ‘On Banks and Banking Activities’,2 based on the facts that NCO Premium:
- violated federal banking laws and Bank of Russia regulations, due to which the regulator repeatedly applied measures against it over the past 12 months;
- failed to comply with the anti-money laundering and counter-terrorist financing laws.
NCO Premium conducted non-transparent transactions to enable payments between individuals and illegal online casinos and bookmakers.
The Bank of Russia appointed a provisional administration3 to NCO Premium for the period until the appointment of a receiver4 or a liquidator.5 In accordance with federal laws, the powers of the credit institution’s executive bodies were suspended.
1 According to the financial statements as of 1 December 2021.
2 The Bank of Russia took this decision due to the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, repeated violations within one year of the requirements stipulated by Articles 7 (except for Clause 3 of Article 7) and 7.2 of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’, and the requirements of Bank of Russia regulations issued in accordance with the above Federal Law, and taking into account repeated application within one year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.
3 In accordance with Bank of Russia Order No. OD-2474, dated 17 December 2021.
4 In accordance with Articles 127 and 189.68 of the Federal Law ‘On Insolvency (Bankruptcy)’.
5 In accordance with Article 23.1 of the Federal Law ‘On Banks and Banking Activities’.
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17.12.2021 00.00.00