The National Bank has not established a mechanism to freeze citizens’ transfers of 10,000 rubles or more as a tool to stop scammers. This position was conveyed to socialbites.ca by Danis Yumabaev, a representative of the regulator.
What is circulating in the media today reflects only the individual statements of members of the Central Bank Financial Services Consumer Protection Board. This group brings together various experts who meet from time to time to discuss topics and share their ideas. Clearly, the current talk about blocking transfers of 10,000 rubles or more is not an official policy, and it is not something the bank endorses. Yumabaev emphasized that supporting such a measure would be imprudent and ill-judged.
He explained that a freezing mechanism for 10,000 rubles cannot be treated as a real initiative. The discussions among the experts were merely a discussion of anti-fraud matters, not a formal proposal. At the same time, the Central Bank is pursuing its own set of measures. Some have moved through the initial stages, while others are in the process of approval.
On August 10, media coverage suggested that the Central Bank proposed freezing transfers exceeding 10,000 rubles in accounts until the user provides additional identification.
The report noted that this idea was floated as a new approach to combat fraudsters. The proposed design would require an extra user ID or PIN to decode a transfer or to access a loan, reinforcing verification steps for attempted transactions.
In summary, the regulator underscores that the idea of automatically freezing higher-value transfers is not currently adopted policy. Instead, the financial authorities are pursuing a range of protective measures that rely on enhanced verification and fraud detection, with several provisions already moving through necessary approvals. The regulator’s spokesperson, Yumabaev, reiterates that any potential changes would undergo formal review before becoming policy, and media discussions should be understood as exploratory commentary rather than definitive action. [Attribution: regulator representative Danis Yumabaev]