OREANDA-NEWS. Due to the non-compliance by the Saint Petersburg-based credit institution Joint-stock Commercial Bank Turbobank, joint-stock company, or JSC JSCB Turbobank with federal banking laws and Bank of Russia regulations, repeated violations within one year of Bank of Russia requirements stipulated by Articles 6, 7 (excluding Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’, as well as Bank of Russia regulations issued in accordance with the said Federal Law, and repeated application within one year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, and guided by Article 19, Clauses 6 and 61 of Part 1 of Article 20 of the Federal Law ‘On Banks and Banking Activities’, and Part 11 of Article 74 of the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, the Bank of Russia took a decision (Order No. OD-139, dated 21 January 2016) to revoke the banking licence from the credit institution Joint-stock Commercial Bank Turbobank, joint-stock company, (Bank of Russia Registration No. 3203, date of registration — 26 January 1995) from 21 January 2016.