In Russia, the identification threshold may be raised to 15,000 rubles. when conducting financial transactions

The threshold in the amount of 15,000 rubles, at which banks are required to identify individual clients when conducting financial transactions, may be increased. This was announced by Anatoly Aksakov, head of the State Duma Financial Market Committee. According to him, such a threshold was set in the zero years and is now not relevant due to inflation.

“Now we have identification starting from 15 thousand rubles, this topic was fixed by us back in the zero years. Naturally, inflation, money depreciated due to inflation, and the question arose of increasing the threshold of 15,000 rubles,” Mr. Aksakov said at a meeting of the financial market committee (quoted by Interfax).

He stated that the current threshold is a burden for financial institutions. The head of the relevant committee proposed to draw up a relevant bill and send proposals to raise the threshold to Rosfinmonitoring. During the meeting, Deputy Finance Minister Alexei Moiseev agreed with his idea.

Banks have the right to require additional information about the client if the amount of the transaction with funds exceeds 15 thousand rubles. or an amount in foreign currency equivalent to 15 thousand rubles. For some services, the threshold has already been raised. For example, when buying cash currency or when paying insurance premiums for OSAGO, it is 40 thousand rubles.

Daria Erozbek