As of July 10, 2015 the Bank of Russia has revoked a banking license held by Aldanzolotobank (Registration No. 854), the Bank of Russia said on its website.
The regulator decided to apply the measure of last resort to the lender as the bank failed to comply with federal banking laws and CBR's statutory acts, violated many times during the year requirements provided for in Article 6 and Article 7 (except for Clause 7 of Article 3) of the Federal Law "On Counteracting Legalization (Laundering) of Criminal Income and Financing of Terrorist Acts", and measures taken against the bank as stipulated in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)".
The regulator pointed out that Aldanzolotobank conducted a high-risk lending policy and failed to form loan loss provisions adequate to the accepted risks. Furthermore, Aldanzolotobank failed to observe statutory requirements and the Bank of Russia's statutory acts in the area of the measures to counteract the legalization (laundering) of criminal income and the financing of terrorist acts as to timely provide an authorized body with data on operations that are subject to mandatory control, and also on the procedure for identifying its customers and their representatives.
Aldanzolotobank's internal control regulations in the field of counteraction of legalization (laundering) of criminal income and the financing of terrorist acts did not meet the requirements of the Bank of Russia's statutory acts. Meanwhile, the lending institution got involved in suspicious transactions to transfer funds abroad, and also in large-scale suspicious transit operations.
In line with the federal laws the powers and authority of the bank's executive bodies were suspended, temporary administration was appointed for the period until a receiver or a liquidator is appointed.
Aldanzolotobank is a member of the national deposit insurance system, and the revocation of a license is an accident insured, the Bank of Russia noted.
