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  Saturday, December 7, 2019
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Russia's Central Bank said Friday it had revoked the operating licenses of three banks over breaches of banking legislation
Russia's Central Bank said Friday it had revoked the operating licenses of three banks over breaches of banking legislation. Moscow-based VIP-Bank and IFKO-Bank, and Krasnodar-based Stroibank were stripped of their licenses and put into temporary administration for failing to comply with federal banking laws and Central Bank regulations, and for violations of laws on money laundering and financing of terrorism, the Central Bank press office said. The Central Bank has also applied numerous supervision measures against the banks, the press office said. The banks will be under temporary administration until the appointment of a receiver or a liquidator. On June 7 the Central Bank stripped Moscow Region-based Mosprombank and Moscow's European Clearing Bank of their licenses and put under temporary administration.
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