The Central Bank (CB) of Russia will request information from banks about all money transfers of citizens, including the personal data of senders and recipients of funds. This was announced on Monday, December 27, by the RBC newspaper, citing three sources in the payment market.
According to the interlocutors of the edition, the Central Bank sent credit institutions a new form for reporting.
A representative of the payment company QIWI confirmed to the publication that it had received such a reporting form. According to him, the Central Bank plans to request reports from next year.
In turn, the deputy chairman of the board of Sovcombank, Oleg Mashtalyar, also told RBC that the Bank of Russia would begin monitoring money transfers from January 2022.
It is noted that in this way the Bank will analyze the market as a whole in the country and in the regions.
In the clarifications of the Central Bank on the new form, it is indicated that banks must include in the reporting all incoming and outgoing transfers from a card, from an account, from an electronic wallet, from the accounts of a telecom operator, in the Fast Payments System, through payment terminals and money transfer systems, as well as cross-border transfers.
The Central Bank clarified: the transfer of funds to deposit accounts, accounts for repayment of loans, brokerage or investment accounts, commissions of credit institutions for servicing, as well as transfers in favor of legal entities and individual entrepreneurs will not be controlled.
As the sources of RBC explained, the regulator will also be able to request information on individual transactions, for example, data on specific cards or on specific individuals.
In this case, information on each operation will contain the card numbers of the sender and recipient of funds, bank data, unique client ID, purpose of payment, the amount of funds transferred, date and time of the transfer, country code of the sender and recipient, etc.
The interlocutors of the publication believe that the Central Bank can use the reports received from banks to control gray entrepreneurship, when people accept payments for their goods or services on the card.
Earlier on Monday, the Central Bank told Izvestia about the development of the concept of transferring client data between banks with his consent using open program interfaces. As the Central Bank assured, such an exchange will help develop competition in the market, increase financial inclusion and will contribute to the emergence of new digital services for citizens and companies.
The service introduced the development of a mechanism and conditions for the transfer of information between banks in the action plan for 2022–2025.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
