A regional Russian bank owned by a former U.S. congressman had its license revoked April 5 for violations that included breaking rules against money laundering.

Commercial Bank of Ivanovo, in which Republican former North Carolina Representative Charles Taylor owns an 80 percent stake, regularly broke anti-money laundering regulations, misrepresented the size of its provisions and used “schemes” to artificially inflate its capital, according to a central bank statement.

Charles Taylor
Photographer: Tim Sloan/AFP via Getty Images

Suspect Russian cash has caught up several lenders in northern Europe, with Swedbank AB’s head Birgitte Bonnesen the latest executive to lose her job over allegations her bank was involved...