Medvedev: fraud in Dagestani banks is a crime

Prime Minister Dmitry Medvedev described the situation in

Dagestan's banks as unacceptable.

"I just looked at the newspaper at what they say about Dagestani banks. I

do not know what's true, what's not quite fair, but if fraud is at 

such a level, it simply undermines stability, it is absolutely

unacceptable, it is a crime," Medvedev told a conference on the

development of bank lending.

Medvedev said that the topic of bank supervision and oversight  was

made a priority during Russia's presidency of the "big twenty".

"We need to create conditions that will increase the quality of

corporate governance, transparency of credit operations, detect and

prevent all kinds of grey schemes and general problems in this area,"

the prime minister is quoted by RIA Novosti.

Earlier, the newspaper "Kommersant" wrote that the Central Bank

found unprecedented fraud in a number of Dagestani banks.