Legal risk

Legal risk is the risk of the bank’s losses in cases of:

  • Incompliance of the bank with the requirements of the legal regulations and concluded agreements;
  • Making legal mistakes in carrying out activities (incorrect legal advice or incorrect drawing of documents, including that in consideration of disputes in courts);
  • Imperfection of the legal system (contradictory nature of the law, absence of legal regulations on certain issues arising in the course of the bank’s activity);
  • Violation of legal regulations, terms and conditions of concluded agreements by the counterparties

The bank’s activity is carried out according to the current legislations and bank of Russia Regulations. The bank observes all requirements and conditions of legislation and Regulations of the bank of Russia related to licenses. Thanks to bank’s qualified employees it can react promptly and adequate on all changes in legislation including changes in Currency legislation, tax legislation and so on what permits to reduce the relevant risks significantly.