21.05.2026, 15:10
The Central Bank recommended banks to strengthen control over depositing large amounts of cash
Source: OREANDA-NEWS
OREANDA-NEWS Russian banks should strengthen control over depositing large amounts of cash, according to the Central Bank's website.
"The Bank of Russia recommends that credit institutions increase their attention to transactions involving clients depositing large amounts of cash, the possible purposes of which are the legalization (laundering) of proceeds from crime and other illegal purposes," the release says.
Thus, banks are encouraged to analyze the transactions of both individuals and legal entities on a daily basis and pay special attention to the characteristic signs that may indicate money laundering. For individuals, this can be, for example, depositing at least five million rubles within 30 days or a large number of account replenishment operations, and for legal entities, depositing at least 30 million into an account, provided that these funds significantly exceed the client's usual turnover.
"The Bank of Russia recommends that credit institutions increase their attention to transactions involving clients depositing large amounts of cash, the possible purposes of which are the legalization (laundering) of proceeds from crime and other illegal purposes," the release says.
Thus, banks are encouraged to analyze the transactions of both individuals and legal entities on a daily basis and pay special attention to the characteristic signs that may indicate money laundering. For individuals, this can be, for example, depositing at least five million rubles within 30 days or a large number of account replenishment operations, and for legal entities, depositing at least 30 million into an account, provided that these funds significantly exceed the client's usual turnover.
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