The Bank of Russia issued an order to revoke a banking license held by Professional Credit Bank (PK-Bank, Registration No. 2652), the regulator’s press service reported.
“The Bank of Russia decided to make this decision as the lending institution violated many times within a year the requirements provided for in Article 7 (except for Clause 3 of Article 7) of the Federal Law “On Counteracting Legalization (Laundering) of Criminal Income and the Financing of Terrorist Acts”.
Based on the Bank of Russia’s data, PK-Bank failed to observe requirements of anti-money laundering laws, failing to timely and fully provide authorities with data on operations that are subject to mandatory control. Meanwhile, the lending institution participated in suspicious transactions on a large scale, including to transfer funds abroad.
