Gref: Master-Bank a signal to all engaged in illegal activities
ST. PETERSBURG. Nov 22 (Interfax) - The revocation of Master-Bank's license demonstrates that the Central Bank is serious about addressing the problem of banks that engage in money laundering and other illegal activities, Sberbank of Russia CEO German Gref said.
"The fact that the Central Bank has activated itself is absolutely true. A large number of banks are simply discrediting the entire sector by engaging in non-banking business, to put it mildly. So a purge needs to happen sooner or later, and today this is a signal to all those engaged in such activities that it's time to cease and desist," Gref told journalists on Friday.
It is "a huge plus for everyone," Gref said.
"We all criticize the authorities for not being active enough. Here, finally, we have a very active position. What the Central Bank is doing now is extremely complex but extremely important work," he said, describing the Central Bank's work in this area as "very professional."