March 04, 2013 17:42
If claims are true Dagestan bank frauds undermine banks' stability - Medvedev (Part 2)
GORKI. March 4 (Interfax) - Prime Minister Dmitry Medvedev said fraud uncovered in banks in Dagestan, if media reports about the scope are true, is a crime that undermines the foundations of the banking sector.
"I do not know what is and what is not fair [in the business daily Kommersant report], but if fraudulent transactions are so widespread, they undermine stability, which is unacceptable. It is a crime. We know about this from other recent examples," Medvedev told a meeting on bank lending.
Medvedev also said that Russia has chosen oversight in the banking sector as a priority on the G20's agenda where it currently holds rotating presidency. Conditions must be created that would enhance the quality of corporate management and transparency of lending operations, and facilitate exposure of shadow schemes and other problems," he said.
Kommersant reported on Monday citing the results of an inquiry and the Central Bank, that flagrant violations were uncovered in Dagestan's Transenergobank and Bank Express. "The scope of the fraud is enormous and include fake private deposits, loans, securities and also cash, whose alleged theft was also fraud," the newspaper writes.
(Our editorial staff can be reached at email@example.com)
February 01, 2015
Four civilians killed in militia-controlled territory - Donetsk republic
Ukrainian forces lose 57 troops, 12 tanks, combat vehicles in 24 hours - Donetsk militia
Dialogue with Russia an imperative - PACE committee head
Inflation will reach its peak in Q2 - Russia's CB chief
Upper stage with British telecom satellite separates from Proton carrier rocket
Kuchma: Donetsk, Luhansk envoys unfamiliar with plan to implement Minsk Memorandum
Ukrainian forces shell Horlivka
Four Ukrainian servicemen killed, 11 injured in camp blaze in Kherson region
Lavrov to visit Turkmenistan to discus bilateral relations, Central Asia, Afghanistan
Intl rating can't influence Russian economy - Central Bank chief (Part 2)
Ukrainian president's ceasefire order main term for further Minsk talks - Donetsk, Luhansk republics' envoys (Part 2)
Intl rating can't influence Russian economy - Central Bank chief