By Oksana Kobzeva
The Bank of Russia on Wednesday said it had revoked the banking licence of Qiwi Bank for engaging in what it described as high-risk operations, sending its Moscow-listed shares plummeting almost 50% to a record low.
The central bank, which has taken regulatory action against Qiwi five times in the last year, said Qiwi Bank had systematically violated requirements on anti-money laundering and terrorism financing legislation.
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