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Distributors Of False Kazakh Bank Information Identified

Clients of Kazakhstan's Kaspi Bank queue to withdraw deposits on February 19.
Kazakh authorities say investigators have identified individuals suspected of distributing false information regarding the country’s leading banks.

Hundreds of depositors rushed to branches of the three banks on February 18 to withdraw savings after they received text messages and online warnings that the banks were on the verge of collapse due to the devaluation of the tenge currency.

On February 19, the Kazakh prosecutor-general's office did not give details of who was responsible for spreading the rumors, but said the investigation was continuing.

A prosecutor's spokesman added that suspects could be charged with the intentional distribution of false information and could be ordered to pay compensation to Kaspi Bank, Alyans Bank, and Tsentrkredit Bank.

Kazakhstan's National Bank last week announced a 19 percent devaluation of the tenge, triggering a rise in prices across the country.

Based on reporting by Kazinform and KazTAG