Russian Central Bank recalls 3 licenses
On November 27, 2007, the Central Bank of Russia recalled the licenses of 3 Russian banks on the grounds that they violated anti-money laundering laws and regulations.
According to the information released to Russian financial media, these banks are Bank of Investment Capital, Bank of Saturn, and SamoletBank.
Bank of Investment Capital (Moscow), also named BikBank, allegedly failed to report suspicious transactions that involved BVI, Seychelles and UK companies as well as transferred R.14 million to banks in the Ukraine, Latvia, Moldova, Kyrgyzstan and Cyprus.
Bank of Saturn, also called Saturn Bank, MKB Saturn, Moscow Commercial Bank Saturn Ltd., and Bank Saturn (Moscow) reportedly did not comply with banking laws.
SamoletBank was charged with suspicious activity reporting violations, not complying with Central Bank orders, as well as cash violations.