RUSSIAN BANK WITH LINKS TO FORMER US POLITICIAN LOSES LICENCE DUE TO BREACHES OF MONEY LAUNDERING RULES

PYMNTS.com reported on 5th April that a small Russian bank, Commercial Bank of Ivanovo, with ties to a former US Congressman (it is 80% owned by former North Carolina Republican Charles Taylor, serving 1991-2007) has lost its licence amid violations of AML rules.

https://www.pymnts.com/news/security-and-risk/2019/russian-bank-money-laundering/

https://www.citizen-times.com/story/news/local/2019/04/05/ex-congressman-charles-taylor-russian-bank-loses-license-accused-money-laundering/3374512002/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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