“Significant slur for the industry.” Head of Bankers’ Association comments on protection racket of bankers by employees of FSB

“Significant slur for the industry.” Head of Bankers’ Association comments on protection racket of bankers by employees of FSB
Head of Russian Bankers’ Association Garegin Tosunyan

Garegin Tosunyan has offered to fight disreputable law enforcers at the highest level.

Head of the Russian Bankers’ Association Garegin Tosunyan has called an investigation carried out by The Bell and Project on protection racket of the financial sector by employees of the Federal Security Service “a significant slur for the industry,” reports Znak.com.

“It is obviously a significant slur for the industry. This is a serious issue. We have to discuss how to fight it at the highest level,” Tosunyan stated.

Besides that, the head of the Bankers’ Association recommended “not to generalize.”

“We don’t have to apply it for everyone. Structures have to be estimated according to professional canons. Otherwise, we will stigmatize everyone: bankers will be swindlers, and the Federal Security Service will protect business. But this is a serious issue. It’s better to expose them and not to smooth them over and hide for esprit de corps,” the financier added.

Earlier, reporters found out that employee of the ‘K’ directorate of the Economic Security Service of the Federal Security Service had taken money from financial organizations for protection racket: per cent from the allocated funds (0.1-0.2 per cent from the volume of business) or fixed ‘kick-backs’ for certain violations. The transportation of the cash was provided by employees of special divisions Alpha and Vympel. A special person - a retired officer of the Federal Security Service or KGB - was sent to banks to control the schemes. This person was appointed a head of the Economic Security Service of the bank. Head of the ‘banking’ department of the ‘K’ directorate Kirill Cherkalin was reported to have been involved in the schemes. In April, 2019, Cherkalin was detained on suspicion of corruption.

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