The Bank of Russia has revoked as of June 24 a banking license held by Moscow-based Bank TEST (Registration No. 3440), the regulator's press service reported.
The bank failed to observe requirements of anti-money laundering laws, failing to identify its customers, their representatives and beneficial owners, the regulator specified. Bank TEST's internal control regulations in the field of counteraction of legalization (laundering) of criminal income and the financing of terrorist acts did not meet the Bank of Russia's requirements.
Meanwhile, the lending institution participated in large-scale suspicious transactions to transfer money abroad. Moreover, the bank's activities were focused on customers who conducted suspicious transit operations. The bank's management and owners took no measures required to bring its activities back to normal.
The lending institution was not a member of the national deposit insurance system. credit rating at the investment grade (BBB-).
