Currency Transfer Thresholds Under Consideration by Rosfinmonitoring
Rosfinmonitoring has proposed setting a hard cap of 100 thousand rubles for transfers conducted by individuals who do not open a bank account. Earlier the agency favored a lower threshold of 60 thousand rubles for similar transfers carried out with simplified customer identification. These ideas were outlined in a draft federal law dealing with amendments to anti money laundering and anti terrorism financing measures. The agency also indicated these changes may be discussed in the context of revisions to the national payment system law.
According to the draft, the simplified identification threshold for moving funds without a bank account would be set at 100 thousand rubles or an equivalent amount in foreign currency. This limit aims to tighten monitoring of small transfers and deter illicit activity while preserving access to basic financial services for individuals who do not maintain full banking relationships.
Market context from the Central Bank reports a notable shift in foreign currency deposits held by Russian residents. By late January, authorities noted that the total deposits reached the lowest levels seen in more than a decade. Early February figures showed a further decline, bringing the total to around 53.7 billion dollars. Analysts described the trend as a sustained downturn in the domestic currency market, marking the eighth consecutive month of reduced deposits.
Supporters of the proposal argue that a clear limit for simplified transfers can improve transparency and risk control across payment systems. Critics, meanwhile, caution that the threshold should balance security with everyday financial needs for nonaccount holders, especially those who rely on cash or minimal formal banking arrangements. The discussion continues as drafts move toward public consultation and legislative review. The goal remains to strengthen safeguards against money laundering and terror financing while maintaining access to essential financial services for ordinary people.