HALISTER1: Alfa-Bank to Charge Money Laundering Suspects for Withdrawals

Alfa-Bank to Charge Money Laundering Suspects for Withdrawals

(Bloomberg) -- Alfa-Bank plans to introduce steep commissions for companies and private entrepreneurs that fall under Russia’s anti-money laundering law, lender says in statement.
  • Bank will charge 10% for transfer of funds left in account and 25% on cash withdrawals in such instances
  • New fees to take effect Aug. 14
  • “These measures will not affect our good-faith clients,” statement says
  • NOTE: Russian central bank’s battle against money laundering has contributed to one in three lenders losing their licenses since 2014
To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net Alexei Anishchuk, Torrey Clark

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER: Volcker Rewrite Is Said to Start as Trump Regulators Grab Reins

Volcker Rewrite Is Said to Start as Trump Regulators Grab Reins

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
C US (Citigroup Inc)
GS US (Goldman Sachs Group Inc/The)
JPM US (JPMorgan Chase & Co)
MS US (Morgan Stanley)
BAC US (Bank of America Corp)

People
Donald Trump (United States of America)
Hon Paul A Volcker (Volcker Alliance/The)
Keith A Noreika (TREAS Office of The Comptroller of The Currency)
Steven Terner Mnuchin (United States of America)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283