Russian government to regulate payment card system security depositsThe Government has submitted a bill to the State Duma that would expand the authority of the cabinet of ministers to ensure uninterrupted service of the international payment card systems, according to a directive signed by Prime Minister Dmitry Medvedev.11:19 05.06.2014
Russian parliament to review bill on tougher punishment for skimmingThe Russian Government has submitted a bill to the State Duma to toughen criminal liability for skimming, the cabinet of ministers announced on its website this Tuesday.11:41 03.06.2014
Russian billionaire Gleb Fetisov to remain in detentionThe Moscow City Court on Friday upheld a previous court decision to extend the detention of former Russian senator and billionaire banker Gleb Fetisov, who is suspected of embezzlement from his bank, until August 22, RAPSI reports from the courtroom.12:45 30.05.2014
US may fine BNP Paribas for breaching economic sanctionsUS officials are threatening BNP Paribas (France) with a $10 billion fine for breaching the sanctions regime regarding Cuba, Sudan and Iran, Wall Street Journal reports citing sources familiar with the talks between the US and the bank.12:15 30.05.2014
Russia ramps up fines for obtaining and revealing commercial secretsRussian authorities are considering increasing the fines for illegally obtaining and disclosing commercial, fiscal or banking secrets up to 1.5 million rubles ($43,500). The relevant amendments to the Criminal Code have been published on the website of planned legislation.14:47 29.05.2014
Convicted Russian banker Matvei Urin charged in another fraud case - reportAnother case has been opened against Russian banker Matvei Urin who was convicted and sentenced in 2011 for a road-rage incident. He is now suspected of having embezzled $2.7 million from Slavyansky Bank.10:49 28.05.2014
Visa, MasterCard to remain in RussiaVisa and MasterCard have reached preliminary agreement on the terms of operating in Russia with the authorities, according to the companies' statements made on Friday.14:42 23.05.2014
Sanctioned Russian bank won't go after Visa, MasterCardSMP Bank, one of the banks affected by sanctions from the US, does not intend to sue Visa or MasterCard international payment systems at this point although there would be a good chance of winning such a suit, an official representative of the Russian loan organization told RIA Novosti.17:16 20.05.2014
Russian banks will be able to provide information under FATCA statuteThe Russian government has approved a bill to allow Russian financial institutions to provide information about US taxpayers and to oblige foreign financial institutions to report Russian taxpayers to Russia’s Federal Tax Service, reads a statement on the government’s website.12:40 14.05.2014
First Republican Bank license revokedRussia’s Central Bank has revoked the license for Moscow based First Republican Bank (FRB) on Monday, according to the regulator’s statement.13:11 05.05.2014
Russian parliament approves law on national card payment systemThe Federation Council, the upper house of Russia’s parliament, approved the law on creating a national card payment system on Tuesday. President Vladimir Putin said that Visa and MasterCard could lose the Russian market and pointed to the need to create a national card payment system in Russia.15:28 29.04.2014
Russian lawmakers pass amendments on foreign nationals’ bank accountsThe State Duma has passed an amendment to a bill on the uninterrupted operation of foreign payment systems, currently in the second reading, that would allow banks to close the accounts of foreign nationals if US law requires the provision of data on such accounts.14:10 25.04.2014
Crimean Prosecutor’s Office sues to seize Privatbank propertyThe Crimean Prosecutor’s Office has filed a lawsuit to seize the physical assets of the Crimean branch of Privatbank, First Deputy Chairman of the Crimean Ministers Council Rustam Temirgaliyev announced at a government meeting Tuesday.14:23 22.04.2014
Russian billionaire ex-senator’s detention extended until August 22Moscow’s Basmanny District Court on Monday extended the detention of former Russian senator and billionaire banker Gleb Fetisov, who is suspected of embezzlement from his bank, until August 22, RIA Novosti reported from the courtroom.17:57 21.04.2014
Belarusian worker prosecuted for overdrawing $170kA criminal case has been initiated after a Belarusian laborer drew more than $170,000 from an ATM as a result of banking error, Belarus Investigative Committee reports on Monday.13:53 21.04.2014
Russia approves bill on national card payment systemThe Russian government has approved the idea of foreign banks’ direct involvement in the national payment system and the addition of the ruble to the Continuous Linked Settlement (CLS) system.11:43 18.04.2014
Russian billionaire ex-senator’s detention to be reviewed April 21The Basmanny District Court of Moscow on April 21 will review the motion to extend the detention of former Russian senator and billionaire banker Gleb Fetisov, who is suspected of embezzlement from his bank, his attorney Igor Dunayev told RAPSI on Wednesday.15:39 16.04.2014
Russia may sue US over banking sanctions - officialRussia considers filing a complaint against the US with the World Trading Organization over the sanctions imposed on Bank Rossiya, according to the statement made by the Economic Development Minister Aleksei Ulukayev on Wednesday.14:24 16.04.2014
Finance Ministry to help banks reduce risk of sanctions related to FATCAThe Finance Ministry has drafted amendments to allow Russian banks to directly report to the US Internal Revenue Service (IRS) about their American clients’ accounts and transactions without violating Russian legislation, and also to close the accounts of those who refuse to disclose this information.11:16 10.04.2014
Moldova requests extradition of Russian banker from UKThe Moldovan Prosecutor General’s office has sent a request to the UK to extradite a wealthy Russian businessman, German Gorbuntsov, on two charges of fraud and suspicion of organizing a contract murder.10:54 07.04.2014