The Central Bank has recalled a banking license of the non-banking lending organization, ATIS (Moscow). The decision was prompted by numerous violations of anti-laundering legislation. Specifically, the lending organization submitted untimely reports on operations subject to mandatory checks to ROSFINMONITORING (Federal Financial Monitoring Service). The Central Bank discovered sizeable turnovers in June-July 2007 on correspondent accounts, opened at ATIS to certain lending organizations, which were stripped of banking licenses by the Central Bank, totalling R14.3 billion. On ATIS correspondence accounts, operations, without obvious economic sense, were systematically conducted, involving transit transfers of large monetary funds between residents and non-residents, as well as conversion operations and note deals to buy large amounts of foreign currency.
Source: BANKI.RU, September 13, 2007
