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Authorities prepare new measures to combat droppers
In Russia, as part of the fight against droppers, payment agents may be prohibited from processing transactions without full client identification. The Russian government has already supported the proposal.
According to Vasily Kutyin, Head of Analytics at Ingo Bank, if the law comes into force, bank payment agents will be unable to provide clients with a wide range of services. For example, they will be unable to make money transfers, issue bank cards, or open e-wallets. Intermediaries will also not accept cash payments exceeding 15,000 rubles from clients to legal entities and sole entrepreneurs.
Vladimir Chernov, an analyst at Freedom Finance Global, asserts that the bill could lengthen the payment process. Banks’ payment agents will not be able to process transactions without full client identification, so there will be an additional step in the process. Clients will have to log in to the bank or the Unified Identification and Authentication System (ESIA) and verify their identity.
On October 13, Anatoly Aksakov, chair of Russia’s State Duma Committee on Financial Markets, announced that card-per-person limits could become effective in Russia from this December. This should help banks identify suspicious transactions more quickly and simplify monitoring.
Source: IZVESTIA