The Bank of Russia recommended that credit institutions continuously identify individuals among their clients who regularly buy precious metals in bullion both for cash and non-cash payments. The relevant methodological recommendations are posted on the regulator's website.
Control should be carried out with respect to purchases that meet such criteria as the unidirectional nature of the transaction for the purchase of precious metals in bullion; when buying precious metals at the expense of funds in a bank account – a short period of time from the date of receipt of funds to the bank account of an individual until the day of purchase of precious metals in bullion; non-delivery of purchased precious metals in ingots for storage in a credit institution or the implementation of such storage for a short period of time.
The Central Bank also suggested that banks identify non–resident legal entities among their clients who deposit cash into a bank account in significant amounts followed by the purchase of precious metals in bullion.
These operations must simultaneously meet the following criteria: operations for depositing cash to a bank account are carried out systematically and are subsequently spent, as a rule, on the purchase of precious metals in bullion; the volume of operations for depositing cash to a bank account exceeds 10 million rubles per month; between depositing cash to a client's bank account and the purchase of precious metals in bars takes an insignificant period of time; the purchased precious metals in bars are not left for storage in a credit institution or such storage is carried out for an insignificant period.
