Banks Blacked by the List
// Scandal
The Russian banking world's attention was again concentrated Thursday on the black list of bank suspected of money laundering after a press release was issued by the Association of Russian Banks (ARB) saying that comment made by association head Garegin Tosunyan about the black list had been misrepresented by the New Region information agency. By that evening, the Central Bank, caught off guard, disavowed new lists and rescinded the license of a bank that was not on them.
The ARB issued a press release on Thursday saying that the New Region information agency had stated the position of the association “complete oppositely” and prejudicially in an article published on the agency's site called “There Are All the Prerequisites for Another Banking Crisis in Russia.” One of the prerequisites mentioned was a statement by Federal Financial Monitoring Service head Viktor Zubkov about the existence of dozens of banks in the country suspected of money laundering. That was followed by a commentary by Tosunyan that Zubkov had broken an agreement not to make statements of that nature. Further on in the same article, there were three lists of ten banks each, one of which was labeled “the most reliable” banks.
“How they distorted my words!” Tosunyan exclaimed. “I said that there were no bad intentions on Zubkov's part and that the Federal Financial Monitoring Service had no black list. There are just some sick people who have access to the Internet and enmity toward a bank. Those people make lists out of desire to cause trouble. There is no need top take such lists seriously.” ARB stated in its press release that it would find the sources that make and distribute that type of black list and take countermeasures, even to the extent of filing suit.”
Oddly, some bankers do not blame the media for the perpetual public interest in black lists, rather they blame Tosunyan himself. “We found the publication in which the black lists of banks were mentioned a day before the ARB press release came out condemning the mention of the lists. I am completely sure that, if it had not been for the press release, no one at all would have noticed,” a top bank executive told Kommersant on condition of anonymity.
Vladimir Antonov, chairman of the board of directors of Converse Group, does not agree. “The ARB acted correctly,” he said. “It would be simply stupid to file a suit against them [New Region] or send some security service after them. We are all used to black lists turning up. The person who made them up is an ass. I hope my colleagues in other banks feel the same way.” Deputy chairman of the board of Eurotrust Bank Elena Shirinskaya concurred in part, saying that, even she had never seen a black list, she does not consider any of them plausible. Deputy chairman of the board of Granit Bank Valery Kravtsov suggested that only official information should be considered when discussing banks.
Alexey Mamontov, president of the Moscow International Currency Association, said that the market is completely different from a year ago. Banks of the second and third echelons carry out the majority of their operations under deposit. The only thing being seen now, Mamontov opined, is that the authorities have not learned anything from the last crisis. “”Then prohibited [first deputy chairman of the Central Bank] Kozlov from saying anything then. Now is has shown up in the States and is making the same kind of statement. And they have a terrible attitude toward our banks there any way,” he said.
The Central Bank refused to comment on the situation on Thursday. But it did react to it indirectly: on Thursday evening, the Central Bank rescinded the license of the Investment Clearing Bank for money laundering. Having a balance of 14 million rubles, that bank passed 24 billion rubles in the last four months. And it wasn't on any of the black lists.
Daniil Zhelobanov, Elena Kiseleva, Kirill Yacheistov
All the Article in Russian as of Mar. 18, 2005
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