Jan 10, 2021
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“Every payment must have clear beneficiaries”: new rules for controlling cash transactions came into force

In Russia, since January 10, control over cash transactions has been tightened. In accordance with the amendments to the law on combating the legalization of proceeds from crime, control over cash transactions in the amount of 600,000 rubles or more is tightened, postal transfers over 100,000 rubles are monitored and other measures are introduced. Experts believe that law-abiding citizens will not face problems due to the new order.

In Russia, on January 10, amendments to the Federal Law “On Counteracting the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism” will come into force, which strengthen control over Russian cash transactions.

In accordance with these amendments, control over cash transactions in the amount of 600 thousand rubles or more is tightened.

Along with this, mandatory control of postal orders in the amount exceeding 100 thousand rubles and the return of funds from the accounts of telecom operators for the same amount are introduced.

Also, from 2022, cash and non-cash payments for real estate transactions will be controlled and settled, the amount should exceed 3 million rubles.

Konstantin Ordov, head of the department of corporate finance and corporate governance at the Financial University under the government of the Russian Federation, believes that the primary goal of the innovations is to combat the financing of terrorism. Law-abiding citizens will not face problems due to the new order, the expert said in an interview with RT.

“I think that there will be no blocking of accounts and delays in payment. This is all within the framework of the state program for the deanonymization of all payments, that is, each payment must have clear, understandable payers and beneficiaries, recipients of these amounts, “Ordov told RT.

Igor Kostikov, chairman of the Finpotrebsoyuz and ex-chairman of the Federal Commission for Securities of Russia, noted that in many countries there are more stringent restrictions of a similar orientation.

“In many countries there are more stringent measures than are now taken … I think that this kind of amount, which is provided for by the FATF (Financial Action Task Force on Money Laundering – RT) are quite real and they should not affect the lives of Russians, “Kostikov said in an interview with RT.

He also suggested that the innovations may be associated with the pandemic, since against the background of the current situation, the volume of cash payments increased.

Note that in August 2020, Russia limited the possibility of anonymous replenishment of Internet wallets. According to the amendments to the Federal Law “On the National Payment System” that have come into force, it is prohibited to replenish electronic wallets in cash without prior identification of the person. Funds can only be credited using a bank account.

The State Duma explained that innovations are needed so that electronic wallets are not used to launder money obtained by criminal means. Another objective of these measures is to limit the funding of unscrupulous organizations.

Penalty for unpaid travel on a toll road

On January 10, a new fine for motorists also came into force – now unpaid travel on toll roads has become punishable. The corresponding document is published on the official portal of legal information.

We are talking about supplementing the Administrative Code of Art. 12.21.4 “Failure to comply with the obligation to pay for the passage of vehicles on toll roads, toll road sections”.

It is noted that a fine is imposed for such a violation: for drivers of passenger cars – in the amount of 1.5 thousand rubles, for drivers of buses and trucks – in the amount of 5 thousand rubles.

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The document emphasizes that “violators who paid the fine no later than 20 days from the date of the decision in the case of an administrative offense are exempted from administrative responsibility, and the case of violation must be terminated.”

Commenting on the introduction of the new fine, the editor-in-chief of Za Rulem magazine Maxim Kadakov called this decision fair.

“Everything is obvious and logical, since checkpoints appear on toll high-speed roads without barriers, through which one can freely slip through. This is true if someone pays, and someone considers himself smarter than others and passes without payment, for such a person must pay a fine, “Kadakov told RT.

At the same time, he drew attention to the fact that recently the number of toll roads has significantly increased.

“The fact that if we are driving on them, then everything must pay, is also correct, therefore the fine is justified,” added the auto expert.

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