Serbian regulators shut down the go-to bank for Russian exiles, costing many their life savings
GlobeAlert Desk · curated from Meduza [en] · Eastern Europe
Many Russian emigrants in Serbia lost all their savings after Alta Bank’s license was revoked on October 31. Some had been keeping money in the bank to buy property, others had planned to spend their savings on a vacation, and still others now find themselves unable to run their businesses. According to a map compiled by the human rights group Kovcheg (The Ark), more than 100 Russian entrepreneurs used Alta. Serbia’s Deposit Insurance Agency has promised to begin paying compensation as early as November 13, but the most any customer can recover is 50,000 euros. Meduza spoke with Russians who l
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