The Central Bank of Russia issued an information letter requiring banks to clearly explain to customers why card and account transactions have been suspended or remote banking access has been restricted, and what customers need to do to restore access to services. Banks are expected to identify the specific provision of federal law that supports the decision and to distinguish between measures taken under Federal Law No. 161-FZ On the National Payment System (anti-fraud) and Federal Law No. 115-FZ On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism (AML/CFT). The regulator also flagged cases where banks cite both laws simultaneously without sufficient grounds for imposing “double restrictions,” calling this practice unacceptable and instructing banks to avoid it. The Central Bank of Russia indicated it will ensure credit institutions comply with these expectations.
Central Bank of Russia 2025-08-26
Central Bank of Russia instructs banks to disclose legal grounds and remediation steps when blocking cards or restricting account access
The Central Bank of Russia issued guidance requiring banks to clearly explain to customers the reasons for suspending card and account transactions or restricting remote banking access, specifying the relevant federal law. Banks must differentiate between actions under Federal Law No. 161-FZ (anti-fraud) and Federal Law No. 115-FZ (AML/CFT), avoiding unjustified "double restrictions." The regulator will monitor compliance with these directives.