The Bank of Russia has revoked as of April 13, 2015 a banking license held by Moscow-based IpoTek Bank (Registration No. 2794), the regulator's press service reported.

IpoTek Bank conducted a high-risk lending policy and formed no loan loss provisions adequate to the accepted risks, the regulator specifies. Meanwhile, the lending institution was "a transit point when its clients performed suspicious operations, the final goal of which was to transfer large amounts abroad", the regulator said in its materials. The bank's executives and owners took no efficient measures to counteract legalization (laundering) of criminal income and the financing of terrorist acts.

IpoTek Bank is a member of the national deposit insurance system.