Ilya Yasinsky, Director of the Department of Financial Monitoring and Currency Control of the Central Bank of Russia, said that the threshold for mandatory control of the banking operation should be increased to at least 1 million rubles. This has been reported DEA News”.
In his opinion, this issue applies to both the Central Bank of Russia and credit institutions. “We hope this year we can discuss this issue constructively with Rosfinmonitoring,” said Yasinsky.
He reminded that the law on operations subject to mandatory control is more than 20 years old.
“In our opinion, without prejudice to the effectiveness of the system, the threshold for such operations can be increased to at least one million rubles. This will reduce the burden on banks,” he said.
According to the current law, transactions in the amount of 600 thousand rubles and more fall under the mandatory control of Rosfinmonitoring. We are talking about withdrawing money, lending to the account of legal entities, buying and selling foreign currency, buying securities and others.
media at the beginning of February reportedHe said the Russian government has set the Bank of Russia (CB) a mandate to strengthen banks’ control over individuals’ monetary transactions by the end of November 2022.