On March 16, the Central Bank of Russia issued an information letter in which it recommended banks to pay increased attention to customer transactions related to cryptocurrencies. The authenticity of the document signed by Deputy Chairman of the Bank of Russia Yuri Isayev was confirmed to Vedomosti by three sources.
The regulator prescribes to carefully monitor any “anomalies in the transactional activity” of clients, changes in the nature of consumer and investment spending. Among other things, this category includes:
This also applies to transactions by individuals and legal entities that bypass currency restrictions, and the withdrawal of assets by organizations from countries unfriendly to Russia. There are now 48 states on this list, including the United States, the United Kingdom and all EU countries.
“In such cases, banks are advised to conduct an in-depth check on the client, consider refusing to carry out a transaction and qualifying it as suspicious”, the information letter says.
These measures are aimed at reducing the risk of transactions related to money laundering and terrorist financing.
The document was approved by Rosfinmonitoring.
In September 2021, the Central Bank issued recommendations for banks to identify suspicious transactions, which included transactions with cryptocurrency exchangers.
The regulator recommended identifying accounts with “unusually large numbers” of citizens or for amounts exceeding 100,000 rubles per day and more than 1 million rubles per month. As a countermeasure, banks were instructed to block such accounts.