The State Duma raised the threshold of operations subject to mandatory control by Rosfinmonitoring to 1 million rubles

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AK&M 06 July 2022 16:42

The State Duma adopted in the third, final reading amendments to the law on countering the legalization of criminal proceeds, increasing to 1 million rubles from 600 thousand rubles. the lower limit of transactions with cash, which should be controlled by Rosfinmonitoring. This is stated in the press service of the Bank of Russia.

The law also increases to 5 million rubles from 3 million rubles the threshold value of such transactions carried out under a real estate transaction.

The Bank of Russia supported these changes because they will reduce the burden on financial institutions and their customers, without reducing the effectiveness of the Russian "anti-legalization" system.