The State Duma has submitted draft amendments to the same 115-FZ in connection with the introduction of the digital ruble.
The digital ruble will be fully controlled by the Central Bank, i.e. it will not only issue it, but will also be the operator of the entire platform. Wallets with digital rubles will be opened only in the Central Bank, and banks will simply provide customers with access to this wallet.
Therefore, the main anti-money laundering control will be assigned to the Central Bank.
By tradition, we present an overview of the main novels.
New anti-money laundering rights and obligations for banks:
1. A new type of mandatory control is added: Transfer of amounts over 1 million rubles from a regular account to a digital ruble wallet and back to the account. Transfers of both individuals and legal entities, including sole proprietors, will be monitored.
2. The Bank will not have the right to refuse to transfer funds transferred from the digital ruble account to the bank account, even if it considers such a transaction suspicious.
3. Banks will be required to transmit to the Central Bank the identification data of the user of the digital ruble, information about the level of risk of suspicious transactions, as well as information about the source of origin of funds.
4. Provide the Central Bank with information on the implementation of the digital ruble platform upon their request.
5. The bank should not provide the client with access to the digital ruble wallet if it assesses the client as high-risk or the client is on the list of terrorists.
6. The Bank does not conduct operations with the digital ruble if the identification information about the client does not match the Central Bank and the Bank.
A new chapter is added to the same 115-FZ, where the Central Bank becomes a full-fledged subject of the Law 115-FZ. The Bank of Russia now has to:
1. Implement anti-money laundering measures almost like banks.
2. When opening a digital ruble wallet, use the information received about the client from the bank serving it.
3. Evaluate the level of risk of suspicious transactions for each user of the digital ruble. In other words, the well-known KYC platform will also work here.
4. Apply measures to persons involved in the lists of terrorists, as well as perform other functions with them by analogy with banks.
5. Report suspicious transactions with the digital ruble to RosFinMonitoring.
6. Refuse to open a digital ruble wallet to customers from the KYC "red zone", as well as those involved in the list of terrorists.
7. Close the client's digital ruble wallet if it is included in the KYC's" red zone " or in the list of terrorists. The remaining amount of digital rubles will be transferred to a regular bank account.
8. If there are suspicions, refuse to open a digital ruble wallet. You can not refuse individuals from the" green zone " of the KYC, as well as individuals who were closed by the Central Bank more than a year ago after two or more refusals in operations on suspicion of doubtfulness (here individuals are given the right to a second chance).
9. If there are suspicions, the Central Bank has the right to refuse operations with the digital ruble.
10 The Central Bank will have the right to close the wallet unilaterally if there are two or more refusals to perform operations within a calendar year on suspicion of doubtfulness.
11. The Central Bank will have the right to request documents about the wallet user both from the bank and directly from the user.
12. Rosfinmonitoring specifically for the Central Bank should come up with types of mandatory control for operations with the digital ruble. The Central Bank will report such transactions to ROSFIN in much the same way as banks do.
What rights will a digital ruble user have?:
1. The Client will have the right to appeal against the decision of the Central Bank to refuse to open a wallet or conduct an operation.
At the first stage, the Central Bank will need to provide explanations and documents proving the absence of a dubious component.
2. The Central Bank is obliged to review the client's application within 7 business days. If the Central Bank refuses, the client should contact the Interdepartmental Commission.
3. You can apply to the court only after a negative decision of the interdepartmental commission.
The Law comes into force on 01.01.2025.
The digital ruble will be fully controlled by the Central Bank, i.e. it will not only issue it, but will also be the operator of the entire platform. Wallets with digital rubles will be opened only in the Central Bank, and banks will simply provide customers with access to this wallet.
Therefore, the main anti-money laundering control will be assigned to the Central Bank.
By tradition, we present an overview of the main novels.
New anti-money laundering rights and obligations for banks:
1. A new type of mandatory control is added: Transfer of amounts over 1 million rubles from a regular account to a digital ruble wallet and back to the account. Transfers of both individuals and legal entities, including sole proprietors, will be monitored.
2. The Bank will not have the right to refuse to transfer funds transferred from the digital ruble account to the bank account, even if it considers such a transaction suspicious.
3. Banks will be required to transmit to the Central Bank the identification data of the user of the digital ruble, information about the level of risk of suspicious transactions, as well as information about the source of origin of funds.
4. Provide the Central Bank with information on the implementation of the digital ruble platform upon their request.
5. The bank should not provide the client with access to the digital ruble wallet if it assesses the client as high-risk or the client is on the list of terrorists.
6. The Bank does not conduct operations with the digital ruble if the identification information about the client does not match the Central Bank and the Bank.
A new chapter is added to the same 115-FZ, where the Central Bank becomes a full-fledged subject of the Law 115-FZ. The Bank of Russia now has to:
1. Implement anti-money laundering measures almost like banks.
2. When opening a digital ruble wallet, use the information received about the client from the bank serving it.
3. Evaluate the level of risk of suspicious transactions for each user of the digital ruble. In other words, the well-known KYC platform will also work here.
4. Apply measures to persons involved in the lists of terrorists, as well as perform other functions with them by analogy with banks.
5. Report suspicious transactions with the digital ruble to RosFinMonitoring.
6. Refuse to open a digital ruble wallet to customers from the KYC "red zone", as well as those involved in the list of terrorists.
7. Close the client's digital ruble wallet if it is included in the KYC's" red zone " or in the list of terrorists. The remaining amount of digital rubles will be transferred to a regular bank account.
8. If there are suspicions, refuse to open a digital ruble wallet. You can not refuse individuals from the" green zone " of the KYC, as well as individuals who were closed by the Central Bank more than a year ago after two or more refusals in operations on suspicion of doubtfulness (here individuals are given the right to a second chance).
9. If there are suspicions, the Central Bank has the right to refuse operations with the digital ruble.
10 The Central Bank will have the right to close the wallet unilaterally if there are two or more refusals to perform operations within a calendar year on suspicion of doubtfulness.
11. The Central Bank will have the right to request documents about the wallet user both from the bank and directly from the user.
12. Rosfinmonitoring specifically for the Central Bank should come up with types of mandatory control for operations with the digital ruble. The Central Bank will report such transactions to ROSFIN in much the same way as banks do.
What rights will a digital ruble user have?:
1. The Client will have the right to appeal against the decision of the Central Bank to refuse to open a wallet or conduct an operation.
At the first stage, the Central Bank will need to provide explanations and documents proving the absence of a dubious component.
2. The Central Bank is obliged to review the client's application within 7 business days. If the Central Bank refuses, the client should contact the Interdepartmental Commission.
3. You can apply to the court only after a negative decision of the interdepartmental commission.
The Law comes into force on 01.01.2025.
