Client Advisory

Russia’s banking sector crackdown raises risks for investors

Stroz Friedberg is a specialized risk management firm built to help clients solve the complex challenges prevalent in today’s digital, connected, and regulated business world

While international attention has focused on six major Russian state-owned banks facing EU and/or Office of Foreign Assets Control (OFAC) sanctions, the pressing issue in Russia has been an increasing crackdown by the Russian Central Bank on smaller domestic players. Since the start of 2014, over 100 bank licenses have been revoked for infringing Russian law. Though increased regulatory vigour sounds like good news for a crowded sector long plagued by low standards, it also creates new risks for foreign businesses with interests in Russia, including investment loss from bank closure, restrictions on fund transfers, and even prosecution.  Download the full advisory now.



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