Russian Bank Loses License Due To Money Laundering
PYMNTS
APRIL 5, 2019
In addition, the bank also misrepresented the size of provisions, and inflated its capital through the use of “schemes,” as the newswire reported. An administrator has been put in place to oversee the Commercial Bank of Ivanovo operations. Commercial Bank of Ivanovo was Russia’s 294th largest bank, as estimated by regulators.
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