OREANDA-NEWS. By its Order No. OD-528, dated 6 March 2015, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Limited Liability Company Non-bank Credit Institution Delta Key or LLC NCO Delta Key (Registration No. 3513-K) from 6 March 2014.

The Bank of Russia took such an extreme measure — revocation of the banking licence — due to the credit institution’s repeated failure within the year to comply with the requirements of Article 7 (except for Point 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’.

LLC NCO Delta Key failed to comply with anti-money laundering/counter-financing terrorism laws, including the requirement to duly report to an authorised body on operations subject to mandatory control. At the same time, the credit institution conducted dubious transactions with cash in large volumes.

By its Order No. OD-529, dated 6 March 2015, the Bank of Russia has appointed a provisional administration to LLC NCO Delta Key for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.

According to financial statements, as of 1 February 2015, LLC NCO Delta Key ranked 805th by assets in the Russian banking system.