16:44 - 6.05.2020

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May 6, Fineko/abc.az. Yelo Bank has spread a statement in connection with the criminal prosecution of two former employees.

ABC.AZ reports with reference to the Bank's information that on 17 March 2020 the inspection revealed violations made by the director and an employee of one of the Bank's branches.

On 19 March, this was reported to the State Financial Monitoring Service. After an internal investigation the two employees were dismissed under the relevant article and additional information was transferred to the SFMS.

Yelo Bank’s chairman of board Nikoloz Shurgaya said: "We believe that the information we sent helped the law enforcement bodies to detain the above-mentioned persons, and we hope they will be punished within the law. We’re are also grateful to the SFMS for further investigation and transfer of information to law enforcement agencies. Yelo Bank’s values are based on principles of transparency - this is the basis of our work.

There is no excuse for violating the law on the part of employees, regardless of their position, and we do not forgive them. As a result, our Bank did not suffer any material damage from the happened.

However, it is a pity that two employees of our Bank took the wrong path, than discredited themselves and cast a shadow on the team in which they worked. I’m grateful to Bank’s experienced and dedicated team on internal control, which identified these facts and promptly reacted.

We’are also grateful to our colleagues who took a principled position in the investigation and evaluation of violators' actions, and the decision to dismiss those who violated their work. I’m also grateful to the employees of the Financial Monitoring Service and law enforcement agencies for their professionalism and actions on protection of law and order in the financial sector."