MOSCOW, Dec 11 (PRIME) -- Russia’s central bank has revoked banking licenses from Petrozavodsk-based Bank Onego, ranked 308th by assets as of December 1, and Moscow-based commercial bank FinTech, ranked 241, the regulator said on Friday.
Both banks violated federal laws regulating banking activities and legal acts of the regulator, including on money laundering and terrorism financing.
Bank Onego’s activities were largely focused on conducting non-transparent operations to transfer funds in favor of illegal online casinos, bookmakers and sweepstakes. The bank was also involved in dubious transactions of clients to withdraw funds abroad.
FinTech specialized in conducting non-transparent operations aimed at serving the organizers of illegal gambling on the Internet.
Bank Onego is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation.
(73.7124 rubles – U.S. $1)
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