The innovations, if approved, will become the next step in the fight against illegal operations in the Russian Federation.
The Bank of Russia and the Ministry of Justice are discussing the possibility of introducing a ban on the direct transfer of money under orders of execution abroad. Changes in legislation, if introduced, may negatively affect, inter alia, the activities of bona fide businessmen. RBC writes about this.
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- Closing the channels for withdrawing funds abroad through executive documents, according to media reports, is necessary to combat money laundering.
- As an alternative to the direct transfer of funds abroad under orders of execution, the Bank of Russia and the Ministry of Justice offered companies and individuals to open accounts with Russian credit institutions. The initiative also applies to non-residents.
- Regulators began to discuss the possibility of introducing a ban on the direct transfer of money under orders of execution abroad, according to media reports, in the winter of 2019. In the same year, the Bank of Russia team drew the attention of market participants to the fact that cross-border operations should become more transparent.
- A number of comments were made to the first version of the amendments to the legislation, so work on them continues to this day.
- The representatives of the initiative drew attention to the fact that a comprehensive approach is required to solve the problems of money laundering through transfers of funds directly to foreign accounts.
Transferring money abroad under orders of execution is not the only type of transactions that came under the close attention of regulators. Earlier, information appeared on the network that the draft law on the report on transfers in foreign electronic wallets was approved in the first reading.