Aspect Bank

The ASPEKT JOINT-STOCK BANK (Joint-stock company) is founded in 1990 by the enterprises and the organizations of Moscow based on the department of the State Bank of the USSR existing since 1947. AB ASPEKT (JSC) was the universal financial credit institution performing main types of banking activities. The basis of the customer base of Bank is formed by the enterprises and the companies of Moscow and the Moscow region of such sectors as the state unitary enterprises, housing and road construction, improvement of territories, legal support, wholesale and retail and others.

The bank was a participant of deposit insurance system, has the General license of the Bank of Russia and the license for implementation of depository, broker and dealer activity, enters into the Association of Russian Banks (ARB). The bank is a participant of the international interbank payment system SWIFT. Bank is also a participant of section of Foreign exchange market PJSC Moskovskaya birzha and the participant of section of the Stock market of MICEX SE Ltd.

The Bank of Russia the order of April 12, 2019 revoked a license for banking operations from the Moscow bank "Aspekt" which is the participant of deposit insurance system. On the value of assets the credit institution took for April 1 the 343rd place in a banking system of the Russian Federation, says the regulator.

According to the Central Bank, the Aspekt bank allowed violations of regulations of the Bank of Russia in the field of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing. The credit institution provided incomplete and incorrect information on the transactions which are subject to mandatory control in authorized body. The bank also performed doubtful operations with cash foreign currency and transit transactions which essential part was connected with shadow sale of cash revenue by retail trade enterprises to the third parties.

The regulator within the last 12 months repeatedly applied to bank of corrective action, the report says.

The Bank of Russia also cancelled the license for implementation of professional activity by Aspect in security market.

In Aspekt bank the temporary administration of the Bank of Russia which will work until appointment of the receiver or the liquidator is appointed. Powers of executive bodies of credit institution are suspended.