The Bank of Russia has revoked as of December 10 a banking license held by Moscow-based Trade Construction Bank (Registration No. 1250), the regulator’s press service reported.
Trade Construction Bank failed to observe statutory requirements in the area of the measures to counteract the legalization (laundering) of criminal income and the financing of terrorist acts as to timely and fully provide an authorized body with reliable data on operations that are subject to mandatory supervision, the regulator specified. Meanwhile, the lending institution participated in suspicious transactions to transfer large amounts of money abroad, the Bank of Russia pointed out.
The lending institution is a member of the national deposit insurance system.
