CB: 50% of the banks with revoked licenses was served by the informal sector

CB: 50% of the banks with revoked licenses was served by the informal sector


According to the Deputy Chairman of the Russian Central Bank Mikhail Sukhov, the sale of banking licenses under questionable transactions, essentially, that the provision of services to the informal sector of the economy, the cashing in of money.

MOSCOW, 20 Oct. Almost half of the banks with revoked licenses was engaged in the services of the informal sector of the Russian economy, the revocation decision was inevitable, said the Chairman of the Central Bank Mikhail Sukhov.

“Between half and two thirds of the cases that we are withdrawing, is not treated common ways is to simply sell banking licenses under the so-called questionable transactions, essentially, that the provision of services to the informal sector of the economy that is called the cashing in of money”, — said Sukhov, speaking at a public lecture at the Higher school of Economics.

“Two thirds or half it is the way of the inevitable punishment of people who do not known what…. Conscious involvement in illegal banking activities,” he added.