The Bank of Russia has developed methodological recommendations for credit institutions on verifying the sources of cash origin when clients conduct large-scale cash transactions. This is reported on the regulator's website.
The measures apply to transactions with large amounts of cash, which are atypical for the standard business activities of organizations and the daily payments of individuals. In particular, the threshold value for citizens is set at 5 million rubles. when performing a single operation, or cumulatively during a calendar month.
The implementation of this mechanism is necessary for banks to promptly identify signs of suspicious transactions aimed at legalizing proceeds from crime, including through the integration of illegal cash into legal circulation, the Central Bank emphasizes.
