Russia's Central Bank to Boost Cash Source Checks

The Central Bank of Russia plans to issue new recommendations for banks to strengthen scrutiny of the sources of cash transactions by both individuals and businesses, aiming to prevent the legalization of funds of unknown origin, particularly from informal markets and illegal crypto exchanges.

Consensus

• The Central Bank of Russia will issue new recommendations for banks to strengthen control over the sources of cash transactions.
• The recommendations will apply to both physical and legal entities.
• The Central Bank is not opposed to cash transactions themselves, but aims to prevent the circulation of cash with unknown origins.
• The focus will be on preventing the legalization of funds through informal channels such as markets and illegal crypto exchanges.
• The recommendations will cover operations such as depositing cash into accounts and conversion transactions.
• The Central Bank plans to publish the recommendations in the near future.
• The Central Bank intends to propose amendments to Federal Law No. 115-FZ on combating money laundering and terrorist financing.
• The increase in cash in circulation since early 2026 is cited as a key reason for the move.

Points of divergence

• The Central Bank will amend Law No. 115-FZ to include new approaches to checking cash sources at the legislative level. — kommersant
• The peak demand for banknotes occurred in April and July, with a rise of 380 billion rubles in September alone. — vm
• The sustained outflow of cash began in March 2026, linked to business adaptation to tax changes in 2026. — meduza
• The Central Bank previously introduced measures in May 2026 requiring banks to monitor clients who frequently deposit large sums, such as 5 million rubles in 30 days or 10 operations of 100,000 rubles each. — tg_moscowtimes_ru
• In June, July, and August 2026, cash outflows from the banking system were 450 billion, 620 billion, and 434 billion rubles respectively, with 380 billion in the first three weeks of September. — tg_moscowtimes_ru
• The Central Bank's representative is named Boris Shabli, not Bogdan Shablia. — tg_varlamov_news

Coverage (10 sources)

• Central Bank of Russia will issue recommendations on control of cash transactions — РИАМО
• Central Bank recommends banks strengthen verification of cash source from clients — Коммерсантъ
• Bank of Russia plans to tighten control over the source of cash for clients — Вечерняя Москва
• Central Bank will tighten control over sources of cash — Meduza
• Central Bank recommends banks strengthen verification of cash origin from clients — Дождь (Telegram)
• Central Bank decided to strengthen control over the origin of cash for Russians — The Moscow Times
• Central Bank of Russia will require banks to tighten checks on the origin of cash from clients — The Insider
• Central Bank of Russia to issue recommendations for banks on strengthening control over the origin of cash from clients, writes RBC with reference... — Varlamov News
• Banks will check where Russians' cash comes from. Anyone can be checked when depositing money into accounts or exchanging currency. — Mash
• Banks will significantly strengthen checks on the origin of cash for Russians. — Первый Московский

Key entities

• CB
• Bank of Russia
• Bogdana Shablya
• Russia
• RBC
• U
• Russian Bankers Association
• ABN24
• Financial Monitoring and Currency Control Services

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