Starting July 25, banks in Russia will be required to pause transfers for two days whenever the Central Bank of Russia holds information about a recipient tied to fraudulent activities in its database of fraud cases and attempted transfers. This rule applies even if the sender presses to move funds during the cooling-off period. In such cases, the financial institution must inform the sender that the transfer did not go through, explain the reason for the pause, and specify the duration of the suspension. If after the two-day window the sender still wishes to send money to the same suspicious account, the bank is obligated to complete the transfer but will not bear financial responsibility for any resulting losses. If a bank fails to suspend a transfer initially, it must refund the money to the sender within 30 calendar days.
The central bank had signaled this measure previously and outlined a broader expansion: a list of indicators of fraudulent transactions, capped at six distinguishing signs. In addition to blocking transfers to accounts on the fraud list, banks are instructed to block transfers that appear unusual for the customer or attempts to transact from a device previously used by a known attacker.
Financial institutions will also be required to suspend transfers to accounts that have previously been involved in fraudulent activity. A further criterion involves information about criminal proceedings against the recipient, which can be introduced to the bank through any channel.
The banks are also instructed to consider data from third parties that demonstrate fraud, such as telecom operator records indicating unusual phone activity by the customer prior to a transfer being made.
Earlier, scammers often exploited home chat platforms to deceive victims, underscoring the need for robust monitoring and quick responses from financial entities. This approach to risk management reflects authorities’ emphasis on proactive protection of customer funds and the integrity of payment networks, especially in scenarios where rapid transfers are a routine part of everyday banking.