Starting from October 1, 2021, a Direction of the Central Bank of the Russian Federation came into force, establishing a new list of questionable operations (transactions).
The issued Direction amends the Regulation No. 375-P of the Central Bank of the Russian Federation dated March 2, 2012 and operates within the framework of the Federal Law No. 115-FZ “On anti-laundering of the income, obtained by criminal means, and terrorist financing”.
According to the document, the operations (transactions) performed by the company and included in the established list fall under the careful control of banks. Banks also have more reasons:
- to demand documents confirming the reality and fact of the transaction;
- to receive additional explanations on the operations performed;
- to refuse to conduct a transaction;
- to terminate the service contract concluded earlier with the company;
- to block the company’s account.
The number of questionable transactions that may lead to increased attention of representatives of the banking sector includes 103 signs indicating the unusual nature of the transaction. The entire list of such signs is determined in the Direction No. 5599-U of the Central Bank of the Russian Federation dated October 20, 2020.
In total, there are 17 main types of transactions that cause doubts among banks. Here are some of them:
- crediting money to an account with VAT, and transferring money to contractors without VAT;
- crediting funds to the account of a company that trades in goods or services, if the bank considers that this is compensation for unaccounted cash takings transferred to third parties;
- depositing cash into the account, the source of which is suspicious;
- performing transactions in the interests of a third party and associated with the repayment of an obligation (performance of a contract), including by offset of claims;
- transfer of money to an organization that trades in goods or services, if the bank suspects that this is a cash payment;
- debiting money from the account in favour of paying agents in amounts not comparable to the need for these services, or making such payments under third-party contracts;
- operations associated with the turnover of digital currency;
- most of the purposes of payment for deposits are not associated with the grounds for debiting, etc.
Please note that banks will most intently monitor those organizations that have two or more signs of questionable transactions.
At the same time, the following three types of operations were excluded from the list of questionable ones:
- Unjustified late transfer of documents to the bank (in this case, it is still recommended not to delay the submission of documents. Otherwise, actions to block the account may be recognized as lawful).
- Impossibility to communicate with the company at the specified address (it is recommended to inform about the change of address in a timely manner, otherwise there will be a risk of termination of the contract).
- Multiple deposits of funds by the founder or director to replenish the company’s circulating assets (it is recommended to issue documents for each receipt of money from the director or founder).
On the issue of compliance with the requirements of the legislation on countering the legalization (laundering) of income, please contact Acsour specialists.