Banks will increasingly tighten the screws on the means, the origin of which is the bankers suspicious. New rights of banks to block funds of clients prescribed in the Civil code. Experts say as the senselessness of innovations and their danger — under freezing can get now, even an innocent transaction, if they have signs of doubtfulness.
Allowed to exclude the Changes in the Civil code, which entered into force on June 1, 2018, expand the list of transactions for which the Bank may refuse your client. According to the new wording of article 848 GK the Bank is obliged to refuse funds crediting to a Bank account, if he sees that the funds associated with financing terrorism, extremism and trafficking in arms and drugs.
About this informed the Deputy of Department of financial monitoring and currency control of the Central Bank Ilya Yasinsky, speaking at the XVI annual conference “Actual issues of implementation by credit institutions of the requirements of the Russian legislation on AML-CFT”, organized by the Association of Russian banks. Ilya Yasinsky said that until now, banks had the right to refuse the client in performing operations associated with the transfer of funds from his account.
But it does not have the right to initially refuse to transfer money to a Bank account, even if there were doubts about their legitimacy. Save crypto-currencies and e-wallets! In practice, experts say, the new powers of banks and measures to support them will be able not so much to deter terrorists, arms dealers and drug traffickers as to limit the operation quite trustworthy customers, says Armen Danielyan.
Blocking operations may relate to many individuals, operating with digital currencies, electronic wallets or receiving money from different sources. Today, when the Bank was suspected of such a client in illegal commercial activity, having enlisted means he can block the card, or even discontinue service. But the money this client in the end everything will be credited and paid.
But after the introduction of the new changes, the Bank can refuse the credit to the account of the client to ascertain the sources of their origin. If the client tried to transfer the funds received from the sale of bitcoins for any foreign area, it may happen that the money will be frozen for a long time, warns Armen Danielyan. Expert gives another simple example of action of the new legislative developments: the entrepreneur agreed with the foreign investor on project financing.
But the Bank, deeming such an operation is unusual, and therefore suspicious, refused to transfer funds to the account. The entrepreneur takes a lot of time trying to confirm the legal origin of these funds.Such cases in the banking practice today is not uncommon. We can only hope that the two-tier system of rehabilitation clients got blacklisted (through banks and inter-departmental Commission under Central Bank) will be able to quickly resolve this complicated situation, concludes Armen Danielyan.