The Central Bank has discovered the secret of buyers of large sums of currency in banks, the media are writing

© RIA Novosti / Vladimir Astapkovich in photobacteria the Central Bank of Russia on Neglinnaya street in Moscow. Archival photoThe Central Bank has discovered the secret of buyers of large sums of currency in banks, the media are writing© RIA Novosti / Vladimir Astapkovich the image Bank

The Bank of Russia has dispatched to banks the letter in which it reported the increase in the number of credit institutions involved in questionable foreign exchange transactions with cash, the transaction is carried out by physical persons, the newspaper «Vedomosti» with reference to the letter.

It often happens that the currency in different banks buy the same people, and then they never sell it – whatever happens with the ruble, said the Central Bank. They buy currency in large amounts – usually not less than 100 thousand dollars at a time, transactions take place regularly, sometimes daily. There are cases of repeated operations during the day. Law enforcement agencies at the request of the Central Bank conducted a sample survey of the customers whose details appear in the documents of the Bank, they claim that the currency these days is not bought or purchased, but not in such quantities.

Who are these people buying foreign currency on such amounts remains a mystery, write «Vedomosti». After reviewing the surveillance tapes from the banks, the Central Bank found that tellers transfer currency such customers in the banking packages without conversion.

Verification of sources of funds used to purchase the currency that is held formally, writes of the Central Bank: banks are usually limited to the recording of the customer profiles of standard information – personal savings, wages, income from entrepreneurial activities is not well documented and comparisons with the amounts of operations. Replies on «scholarships» and «pensions» to satisfy the banks, according to the edition, the representative of the regulator. According to him, the operation was detected for both large and small banks, the regulator applies to the banks interventions.

Such transactions are carried out to supply cash currency illegal exchangers that serve the informal sector of the economy. In the letter, the regulator has indicated that the exchange appeal entity with substantial amounts of uncollected revenue. Also, such operations may be held in «corruption and other illegal purposes» indicates the Central Bank. End-customers money – trading-wholesale enterprises and markets, told the newspaper one of the financiers: they used to buy the currency at banks specializing in these transactions, but this year, the Central Bank has deprived of their license. They continue to do their job as illegal exchangers.

Central Bank recommended banks to update anti-money laundering procedures to modify the procedure for verifying the origin of funds. The regulator also reminded banks that they have the right to refuse the client in performing the transaction if he does not provide the necessary documents, or if the Bank simply questioned the purity of his operation. Forgetful of the Central Bank hinted that if any such operations will apply the «Supervisory response measures.» — to impose restrictions and prohibitions for banks, if not to revoke the license.

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