The state Duma has strengthened control over operations with cash from 600 thousand rubles
The state Duma adopted in the second and third reading a law specifying the list of operations with funds subject to obligatory control. Including the law strengthens control over cash transactions for the sum from 600 thousand roubles and to introduce compulsory monitoring of postal orders from 100 thousand rubles.
Now banks are required to perform such monitoring and to inform Rosfinmonitoring, with the withdrawal of the legal person or the crediting of cash in the amount of 600 thousand rubles and more, if it is not due to the nature of its business. The law introduces control of such operations, regardless of the nature of economic activity of legal entities (i.e., all such cash transactions for that amount will be controlled).
Will be monitored and operations in the amount of 600 thousand rubles for crediting or debiting the account (Deposit) of foreign structure without legal entity formation and lease payments and payments of insurance compensation to the legal person or legal entity receiving from premiums.
At the same time, out-of-control displays the exchange of banknotes of one denomination to another denomination banknotes, money transfers abroad to anonymous owner, and receipt of funds from, and remittances from non-banking entities on behalf of a client. Will not be controlled and obtaining property under the lease agreement, but will retain control over the provision of property under such contracts.
The law introduces mandatory monitoring of postal remittances and return the unused balance of the money deposited as advance payment for communication services, if the amount of such operations from 100 thousand rubles. A threshold amount of transactions of the second and subsequent transfers (withdrawals) of funds for the payment of the state defense order is reduced to 10 million to 50 million rubles.
Under current law, organizations are obliged to inform the Federal financial monitoring service when there is suspicion that any transaction aimed at legalization of criminal incomes or financing of terrorism. The law from March 1, 2022 requires entities in such cases and to provide information about the actions of the customer or its representative related to such operations, as well as available information on beneficial owner.
In addition, for organizations conducting operations with monetary funds or other property that introduces a differentiated approach to providing information about transactions subject to mandatory control. For each organization (credit, insurance, leasing organizations, operators of lotteries, gambling, investment platforms, pawn shops, etc.) specific type of operations, subject to such controls.
The law should enter into force 180 days after its official publication, except for provisions for which any other term.