The Executive Board of the National Bank of Moldova fined the commercial bank “Comertbank” 1.7 million lei and the members of the bank’s Board over 550,000 lei, IPN reports, with reference to a press release of the central bank.

The decision was taken following a comprehensive inspection carried out at the bank, during which a number of violations were identified.

In particular, the bank didn’t meet provisions of the Law on the prevention and combating of money laundering and terrorism financing, prudential requirements concerning lending activity, transactions with persons affiliated to the bank, internal control systems, administration framework and others.