Until the end of November, banks will strengthen control over the monetary transactions of their clients. They will have to quickly identify suspicious accounts and constantly monitor transactions. Such a task was set for the Central Bank in the government’s roadmap for the regulation of cryptocurrencies (Izvestia has it).
We are talking about the introduction of methodological recommendations of the Central Bank on increasing the attention of banks to individual operations of citizens, which were approved in September last year. To combat illegal transactions, the regulator recommended that banks quickly identify accounts that carry out transactions with an “unusually large number” of citizens – more than 10 per day and more than 50 per month, as well as more than 30 transactions with individuals per day. In addition, “significant volumes” of transactions between citizens fall under suspicion – more than 100 thousand rubles a day, more than 1 million rubles a month.
In the government’s roadmap, the Bank of Russia is tasked with implementing the recommendations into the compliance practices of Russian banks’ divisions by the end of November, as well as assessing the results of their application and, if necessary, making adjustments. Thus, the implementation of the recommendations will become mandatory.
Recommendations to strengthen control over the operations of individuals are already being applied by banks, Izvestia was told at the Central Bank and a number of credit institutions. They are directed against payments by participants in the shadow gambling business, crypto exchangers, illegal forex dealers and organizers of financial pyramids, the regulator emphasized.
The implementation of the recommendations does not imply “total control” over the operations of individuals and is aimed at identifying “separate risk areas”, it will not affect small and micro businesses, the Central Bank assured.
Read more in the exclusive Izvestia article:
Banking special operation: control over the accounts of citizens will be strengthened
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.
