Banks want to get the right to write off commissions and loan payments from customer accounts, whose data cannot be updated. According to the authors of the initiative, this will allow clients to avoid fines and penalties if they did not inform about the change of their passport in time, and to banks – to prevent fraud with “sleeping accounts”. As they write Notifications, most often within the framework of the “regulatory guillotine” there are proposals concerning precisely the “anti-money laundering” legislation.
Absolut Bank proposed to legally allow credit institutions to write off funds for maintaining accounts and making payments on loans, even if banks cannot get in touch with the client and update information about him. Such proposals are being prepared as part of improving the legal framework for regulating the financial market. Now banks are not entitled to write off money from accounts for which identification data has not been updated for more than a year, and must contact the client. Now banks want to get the right to write off money for maintaining an account or in favor of a loan in the event that the client’s identification data has changed, but he did not report this for a year and did not answer the calls of the credit institution.
UniCredit Bank considers the initiative to be reasonable: having no formal ability to write off current payments, the bank is forced to form a delay, although it has all the grounds and instructions for writing off from the client. This creates inconvenience both for the credit institution and for the client, since penalty interest is charged on the outstanding debt. The RSHB and Rosbank also supported the initiative.
Promsvyazbank said that the number of accounts that cannot be closed due to the balance of funds is constantly increasing, and banks have to service them at a loss. The funds received from the service commission could be used by banks, among other things, for updating data through automated requests to customers and government agencies. In addition, the Central Bank has previously emphasized the risks of using “dormant accounts” for dubious transactions, and the possibility of charging commissions from “abandoned accounts” when they are subsequently closed can be considered as a preventive measure. Such operations do not carry the risk of money laundering, but allow the bank to return money for services already rendered.
The Central Bank has not yet received an initiative to write off money from clients’ accounts, specifying that most of the initiatives to abolish or update legislative norms in one way or another relate to “anti-money laundering” legislation. The Bank of Russia and Rosfinmonitoring assured that they are in constant dialogue with the professional community, including on issues of “anti-money laundering” legislation.
In addition, the banks supporting the initiative propose to legally limit the amount of customer information provided to Rosfinmonitoring, since now the list in the Central Bank’s instructions is much wider than in the anti-money laundering law itself. It is also necessary to increase the amount of real estate transactions and other transactions that are subject to mandatory control: the base amount for them has not changed since 2001 and is 600 thousand rubles.
In addition, credit institutions should be given the right to refuse to implement enforcement documents, since it is practically impossible to check some documents that have the force of an enforcement order (for example, decisions of labor dispute commissions). Rosfinmonitoring and the Central Bank confirmed the preparation of relevant legislative initiatives.