Banking “traffic light” has been launched in Russia
From July 1, all credit institutions must be connected to the “Know Your Customer” system of the Central Bank. Regulator of increased energy consumption of all legal entities by risk categories. Business fears that not only unscrupulous entrepreneurs are caught in the “red” danger.
Know Your Customer, or KYC, is the anti-money laundering platform of the Bank of Russia, to which all Russian banks are now connected. System captures only legal entities and is engaged in entrepreneurship. New regulations Each such client is evaluated at the bank level and at the level of the Central Bank, and as a result they are assigned to one of the risk categories: green, yellow or red. High-risk banks prohibit almost all transactions. The yellow category is increased attention from the bank and blocking of frequent transactions. Accordingly, green is complete freedom.
At the request of Business FM, Russian businessmen appreciated the innovations.
General Director of the service station “SpetsDrive” Andrey Degtyarev:
“To be honest, like everything new, I would be suspicious of the system. And in general, how the Central Bank will evaluate it is completely unclear. It feels like nothing good will come of it. Probably, this system will reveal some crooks and scoundrels, but, I’m afraid, along with the countless number of scoundrels, a very large number of decent organizations will come across. This fat big sleeve of the Central Bank rolls up one size fits all. Here we bought spare parts from someone, and this someone – it is not clear how a bank that does not belong to him. We bought spare parts, they shipped them to us, the bank can consider this possibility of money laundering. And the most important thing, which is not mentioned in the news, is how to get whitewashed, how to return your tarnished name later.
MadHIFI owner Maxim Shmelkov:
“Those who are engaged in laundering activities are probably not stupid people, and, most likely, they will find a reason to get around the method. But conscientious clients will face the discovery of an erroneous discovery in this registry and banking restrictions. How to understand which operation is doubtful? No special value, unfortunately, is provided. Again, dubiousness criteria such as being found with dubious counterparties are provided. Suppose a certain legal entity approached me in a store with a profit to buy something by bank transfer. But the expense of the legal entity is recognized as doubtful. I can automatically get into the register of suspicious persons too. If you believe the article, where the system is called public, my clients and contractors see this and take into account that it is better not to do business with me.
All Russian banks must connect to the CSK and inform the Central Bank about the degree of risk of each client, but it is not necessary to be guided by the assessment of the Central Bank. Under each law, the credit institution decides on this independently and ensures compliance with internal control rules. If the bank chooses to rely on its own data, but for some client they play on the verdict of the regulator, the organization must inform the Central Bank about the reasons for the client’s refusal from one or another risk group. Messages about decisions of large banks to assess or not use assessments
Are entrepreneurs’ fears about the regulator’s “color blindness” justified? And what about the “green” business that enters the red stage? Alexander Naumov, Deputy Head of the Financial Market Council, comments:
Alexander Naumov Deputy Head of the National Financial Market Department
There will be no absolutely painless period for challenging the risk assessment. The most severe consequences occur six months after inclusion in the red increased probability – almost to the probable exclusion from the only register of legal entities and cases. But even before this, the organization will be almost paralyzed: to withdraw from the permit account only for protection, including tax exemption, and 30 thousand per month to ensure the livelihoods of each family member of an individual entrepreneur.
Finally, the new system has one absolute plus. Any transactions between clients used by the Central Bank from the green category will not be limited by banks. According to the regulator, this applies to 99% of all individual entrepreneurs and organizations.