From June 30, 2016, the Central Bank of the Russian Federation plans to complete the capital amnesty procedure, during which the practice of legalizing funds owned by citizens was carried out. Soon all banks will have the full right to decide whether to give deposits to citizens or not. Therefore, in the second half of 2016, all clients will face difficulties in making transactions with bank deposits. This applies to individuals, legal entities and individual entrepreneurs.
In 2016, the capital amnesty procedure introduced by Vladimir Putin and aimed at clarifying dubious incomes will be completed.
Last year, the Bank of Russia gave credit institutions the right to control and verify the sources of funds of their depositors, but since 2015, only Sberbank of the Russian Federation has exercised this right.
Clients will not have any problems opening a deposit in Sberbank, they only need a passport. Difficulties will begin if the depositor wants to carry out operations on his deposit in the amount of 1.5 million rubles, in particular, withdraw or transfer funds. In this case, the depositor will have to submit papers confirming the legality of his funds (certificates of sale of property, 2-NDFL certificate, documents from the accounting department, etc.). Moreover, the state has not yet established a list of certain documents to confirm the sources of funds, which means that each bank has the right to demand various papers at its discretion and decide whether to allow deposit operations or not.
To date, with the introduction of such innovations in the banking sector, complaints and discontent have already been received from depositors.
Other credit organizations, except for Sberbank, for example, Alfa-Bank and VTB24, do not yet resort to control and collection of information about the sources of clients' funds and do not require certificates of legalization of income when performing transactions with deposits.
As for the amount, Federal Law No. 115 of August 7, 2001 establishes mandatory control over transactions in the amount of 600 thousand rubles or more. or its equivalent in foreign currency. Also, any amounts are subject to control if there is a suspicion of their dubious source of income.
According to Ilya Yasinsky, Deputy Head of the Department of Financial Monitoring and Currency Control of the Central Bank of Russia, after the expiry of the terms of the capital amnesty, banks will be required to obtain confirmation of the legality of their clients' money and property. This applies both for new deposits and for deposits that were already in bank accounts before the end of the amnesty.
