Good reason to open a foreign bank account
The litigation that is currently unfolding between the Federal Tax Service and Sberbank may be a significant precedent that will affect the entire banking sector in Russia. The FTS accuses…

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Open a bank account in Germany
A bank account abroad is one of the most attractive and thoughtful products for diversifying currency risks and protecting its assets. In fact, to ensure that your money does not…

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Cayman Islands introduced new legislation to protect personal information
The Cayman Islands, like many other small island states whose main income is provided by the financial sector, consider it of utmost importance to maintain its reputation as a reliable…

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Know your customer: this is why banks WILL ask you awkward questions
Banks are fined hundreds of millions of dollars for insufficient customer verification. This is exactly what happened with the largest bank in Pakistan, which received a $ 225 million fine…

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Brokerage operations of banks in their accounting

The securities market is similar to the market of any other commodity, but it also has its own characteristics, which are determined by the specifics of the commodity, the method of education, the nature of circulation. It is part of the financial market.
The main purpose of the securities market is to accumulate temporarily free funds in order to invest them. To accomplish this goal, the securities market performs certain general market and specific functions. Continue reading

Ways to prevent bankruptcy of commercial banks in Russia

During the years of the crisis, which has lasted since 2014, the financial and economic sector has been severely shaken. After the introduction of restrictive sanctions, the deterioration of the life of the population, constant jumps and the growth of currency rates, reduction of gold and currency standards by 80 billion dollars, the efficiency of banks has sharply decreased. Unable to withstand the economic pressure, about 120 banks closed over two years and today their number was about 714. Continue reading