😱Russia🇷🇺: Banks Can Now Block Frequent Card Transfers, and New Restrictions for Minors Have Been Introduced

😱Russia🇷🇺: Banks Can Now Block Frequent Card Transfers, and New Restrictions for Minors Have Been Introduced

Rosfinmonitoring has been granted new powers and, starting in June 2025, will be able to block financial transactions for up to 10 days without a court order if there are suspicions of money laundering or terrorist financing.

➡️Transactions subject to blocking include frequent small transfers, funds received from multiple individuals without clear justification, debt repayments without supporting documentation, and unusual spending patterns.

➡️If the block is based on information provided by competent foreign authorities, this period can be extended up to 30 days.

➡️Citizens will be notified of any transfer suspension on the same day, and if requested, authorities must provide the reasons for the block within three business days.

➡️In case of a block, it is recommended to promptly provide an explanation. If the measure persists, the decision can be appealed to the Central Bank or the courts.

➡️Additionally, the State Duma has prohibited minors from opening bank accounts by themselves.

These changes have already been incorporated into the Russian Civil Code, although the future of accounts previously opened by teenagers has yet to be defined.

#news #Russia #fraud

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