Russian financial watchdog sees high risk clients migrating from Qiwi to other banks

MOSCOW. Aug 9 (Interfax) - Russia's Federal Financial Monitoring Service (Rosfinmonitoring) has seen clients who conducted suspicious transactions migrate from Qiwi Bank to other banks since the Central Bank revoked Qiwi's license, the watchdog's deputy head, German Neglyad said.

"Of course, we're watching this situation, including with clients who were previously clients of Qiwi Bank and conducted suspicious financial transactions. Indeed, many of them have gone over to other lending institutions for services," Neglyad said.

"But we have one monitoring mandate. There's no difference what lending institution we're talking about, we keep an eye on all institutions and take appropriate measures," he said.

The Central Bank revoked Qiwi Bank's license in February, citing violations of federal laws, including against money laundering and financing of terrorism, and Central Bank regulations.