The Bank of Russia has revoked as of January 20 a banking license held by Saransk-based Intercapital-Bank (Registration No. 2706), the regulator's press service reported.
The bank failed to observe statutory requirements in the area of the measures to counteract the legalization (laundering) of criminal income and the financing of terrorist acts as to timely and fully provide an authorized body with data on operations that are subject to mandatory supervision, the regulator specified. Meanwhile, the lending institution participated in suspicious transactions to transfer large amounts of money abroad, the Bank of Russia said in a press release.
Intercapital-Bank holds no membership in the deposit insurance system.
