A Russian bank operating in Crimea had its license taken away
The Central Bank of Russia revoked the license of MAST-Bank, which operated in Crimea. The financial institution was accused of violating the law, in particular, the requirements of the law “On combating the legalization (laundering) of proceeds from crime and the financing of terrorism.”
This is stated in a message on the official website of the Central Bank.
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It is noted that the bank’s assets amounted to less than 2% and did not allow it to fulfill its obligations to depositors.
“The bank’s activities also revealed repeated violations of legislation in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism in terms of the procedure for identifying clients when making non-cash payments on their orders. At the same time, the credit institution was involved in dubious transactions involving the withdrawal of funds abroad in large quantities, as well as dubious transit transactions,” the Central Bank said in a statement.
In terms of assets, MAST-Bank occupied 189th place in the banking system of the Russian Federation, was a participant in the deposit insurance system, therefore all obligations to return funds will be fulfilled to its clients.
In Crimea, the bank had a network of 16 branches and cash offices.
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