The Central Bank revoked the license of Kivy Bank
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The Central Bank (CB) revoked the license of Kivy Bank due to “high-risk operations”. His Contact service was actively used by emigrants to withdraw money from Russia.
The Central Bank classified settlements between individuals and shadow businesses as high-risk operations, including transfers of money to crypto-exchangers, illegal online casinos, and bookmakers. In addition, Kyvy Bank was looking for new ways to circumvent restrictions imposed by the Central Bank.
Also, the Central Bank claims that the bank systematically violated laws on combating the laundering of proceeds of crime and the financing of terrorism. In addition, the Central Bank writes, the bank opened QIWI wallets using the personal data of individuals without their knowledge.
Kivy Bank did not stop high-risk operations, despite repeated measures and restrictions from the Central Bank. A temporary administration has been appointed to the bank. The Central Bank passed on information about transactions that could be criminally punishable to law enforcement agencies.
Kivy Bank ranked 89th in Russia in terms of assets. Deposits up to 1.4 million rubles will be returned to depositors. His service for transferring money from Russian cards to foreign Contact was actively used by emigrants who continue to receive income in Russia.
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