Bank of Russia forms internet regulation division

In preparation for regulating banking operations on the Internet, the Bank of Russia has created a special division within its department for monitoring banks. Bankers have greeted this news enthusiastically, with the hope that the new division will establish clear rules of the game and foster the growth of a new form of banking services. Alexei Simanovsky, head of the central bank's monitoring department, told reporters last week that the new division should study banking services offered on