Russians face limitation on monthly transfers exceeding 100,000 rubles.
New Article:
Hey there! From May 15, 2025, Russia's got a fresh rule that'll impact certain citizens – a monthly cap of 100,000 rubles for cash transfers between individuals, according to the Central Bank. This move is aimed squarely at stopping those slippery shadow financial schemes, especially the antics of "droppers," who help fraudsters pull off dirty money transactions.
"beginning May 15, these droppers will find it tougher to move their ill-gotten cash. They'll no longer be able to funnel more than 100,000 rubles a month to themselves or others," the Central Bank told us. This cap ensures citizens can manage essential transfers, all while stopping the system from being misused for laundering stolen funds.
If you find yourself needing a transfer that skirts the 100,000 ruble limit, humble yourself and trot down to your local bank branch. Don't forget to toss your passport or other ID onto the counter. This fresh measure? It's all about those in the Central Bank's book of offenders linked to fraudski businesses.
Here's the fun part: this crackdown don't touch payments to legal entities. So, if you're on the Central Bank's naughty list, you can still drop some dough on goods in stores, online platforms, and utility bills using your bank card or swinging by the internet banking.
Rewind to 2024, and the Central Bank found that a massive 10 million Russians had been logging onto those dropper cards – fake IDs or sold to fraudsters or the shadowy underworld. And you thought your Tuesday was bad!
Before this drastic move, the Central Bank had already put some payment security standards in place, designed to keep your hard-earned rubles safe from fraudsters.
In a nutshell, this new transfer cap is part of the Russian authorities' tough stance on fraud – a relentless pursuit of a safer financial landscape for the everyday citizen, while stymieing the crafty machinations of scammers.
- The new transfer cap, taking effect May 15, 2025, is aiming to impact the finance sector, specifically targeting the illicit activities of dropper individuals, as part of Russia's effort to combat fraud and maintain a safer business environment.
- The Central Bank's stricter cash transfer regulations, implemented from May 15, 2025, are designed not only to prevent the misuse of the system for laundering stolen funds but also to create a more secure business and finance environment for legitimate citizens.
