Almaty prosecutor's office suspended BTA Bank license

20:07, 24 December 2013

ASTANA. December 24. KAZINFORM - Almaty Prosecutor's Office conducted an audit in Almaty branch of JSC "BTA Bank" for compliance with the legislation on counteraction to legalization (laundering) of illegally obtained proceeds and terrorist financing, according to the press office of the prosecutor's office.

"The audit revealed systematic violations of the law on counteraction to legalization (laundering) of illegally obtained proceeds, expressed in untimely reporting to the authorized body carrying out financial monitoring - the Financial Monitoring Committee of the Finance Ministry", the statement reads.

The supervisor demanded to bring the BTA Bank to administrative responsibility and suspend its banking license. The Almaty specialized inter-district economic court qualified actions of the bank under Article 168-3 of Part 1 of the Code of Administrative Violations and ordered it to pay an administrative penalty equal to 350 monthly calculation indices, i.e. 605 580 tenge. The National Bank issued a decree on 18 December 2013 suspending the BTA Bank's license.

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