2024-02-21 06:56:15
The Bank of Russia revoked the license to carry out banking operations from Qiwi Bank, reports Central Bank February 21. Information regarding bank operations that have signs of criminal offenses has been sent to law enforcement agencies.
“In terms of assets, the credit institution occupied 89th place in the banking system of the Russian Federation,” the report notes.
The Central Bank made this decision because the bank, as stated in the message, violated federal laws regulating banking activities, as well as regulations of the Central Bank. The regulator took measures once morest him five times during the year, including twice introducing restrictions on certain transactions.
In addition, according to the Central Bank, Qiwi Bank systematically committed violations in the field of combating money laundering and the financing of terrorism. Also, “numerous cases of banks opening QIWI wallets using personal data of individuals without their knowledge and carrying out transactions on them were established, which created significant risks for citizens.”
And even amid the supervision of the Central Bank, the bank, as the report says, “did not take effective measures to reduce risks in its activities” and “continued to conduct high-risk transactions.”
Qiwi Bank, according to the Central Bank, was not a significant lender to the real sector of the economy.
“His activities were characterized by involvement in high-risk transactions aimed at ensuring settlements between individuals and shadow businesses, including transfers of funds in favor of crypto exchangers, illegal online casinos, bookmakers, etc., as well as the search for new ways to circumvent regulations introduced by the regulator restrictions,” notes the Bank of Russia website.
The powers of the executive bodies of the credit organization have been suspended. The state corporation “Deposit Insurance Agency” has been appointed as the temporary administration. It will remain in effect until a bankruptcy trustee or liquidator is appointed.
“The termination of the Bank’s activities will not have a significant impact on the ability of citizens, entrepreneurs and legal entities to make payments and transfers, including without opening an account, through other credit institutions and payment systems,” the Central Bank assures.
Depositors will be refunded their deposits in the amount of 100% of the balance of funds, but not more than 1.4 million rubles. The funds will be paid by the DIA Group of Companies.
Payments to QIWI Bank depositors will begin no later than March 6, the Deposit Insurance Agency reported.
“According to the bank’s reporting as of January 1, 2024, the Agency’s insurance liability is tentatively estimated at 4.6 billion rubles,” the statement says.
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