⛔️ Russia🇷🇺: The Central Bank seeks to limit the number of cards per person

⛔️ Russia🇷🇺: The Central Bank seeks to limit the number of cards per person

The regulator aims to curb the use of “drops”, a technique for moving money that remains common despite rising prices of disposable cards on the black market.

➡️ According to Nabiullina, the measure will not affect the general population, as "normal citizens don’t open hundreds or even thousands of cards." It is based on Kazakhstan’s🇰🇿 experience, where since this year, anyone with five or more cards in a bank is considered “high risk” and faces additional scrutiny.

➡️ The Central Bank proposes a limit of up to 5 cards per bank and up to 20 in total across different institutions.

➡️ The debate on penalizing “drops” has been ongoing, but the issue is that most of them are teenagers.

➡️ Following the ZSK model (the Central Bank’s KYC), authorities are considering a platform to detect “drops”, categorizing individuals and companies into risk levels. Banks could restrict operations for those classified as high risk.

➡️ The head of financial fraud prevention at F6 suggests that the best solution is to technically prevent bank employees from issuing more than the allowed number of cards, eliminating any room for discretion.

#news #Russia #fraud #exUSSR

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