The Bank of Russia has revoked the license of the INECO credit institution

The Central Bank of Russia has revoked the license for banking operations from a settlement non-bank credit organization (RNCO) INEKO. This was announced on May 22 by the press service of the regulator.

"The Bank of Russia, by order No. OD-1011 dated 05/22/2025, revoked the license for banking operations from the settlement non—bank credit organization INECO (limited liability company)," follows from a publication on the website of the Central Bank of Russia.

It clarifies that the organization violated the laws that regulate banking activities. In addition, INECO allowed the legalization of proceeds from crime and the financing of terrorism.

Over the past 1.5 years, the RNCO's membership has been changing through the purchase of shares in amounts that do not require prior approval by the supervisory authority. The regulator explained that this is evidence of opacity in the work. The Central Bank of Russia has transferred all information about INECO's operations to law enforcement agencies.

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On April 15, the Central Bank of the Russian Federation revoked Promtransbank's license to operate due to repeated violations of laws and regulations. For example, the bank made large long-term investments, but their profitability did not cover the costs of the funds raised.