CENTRAL BANK OF RUSSIA REVOKES THE LICENSE OF RFI-BANK

CENTRAL BANK OF RUSSIA REVOKES THE LICENSE OF RFI-BANK

CENTRAL BANK OF RUSSIA REVOKES THE LICENSE OF RFI-BANK
The Central Bank of Russia announced the revocation of the banking license from Reserve Finance and Investments Bank JSC. The organization has been engaged in opaque activities related to online casinos.



According to the regulator, the bank has repeatedly violated the laws governing banking and regulations of the Central Bank. The Central Bank tried to apply measures to the institution, among them there was a restriction on the conduct of certain financial transactions.

RFI-Bank was engaged in non-transparent transactions for settlements between individuals and online casinos and bookmakers.

The Central Bank also revoked the bank's license to operate in the securities market. Now the temporary administration of the Central Bank is working in the RFI-Bank and later it will be replaced by a bankruptcy trustee or by liquidator.

RFI-Bank ranked 328th in the banking rating of the Russian Federation. The financial institution is a member of the deposit insurance system, and therefore the funds will be returned to customers in full, but not more than 1.4 million rubles per person.


04.06.2021