The Central Bank of Russia has issued supervisory recommendations to banks after identifying cases where customers aged 14–18 are used as money mules and drawn into money laundering transactions, illegal entrepreneurship and other fraudulent schemes. The guidance focuses on early risk warnings, parental or legal representative involvement, and strengthened monitoring and transaction controls for minors’ accounts. Banks are recommended to warn teenagers about these risks immediately after account opening and to inform parents or other legal representatives about bank cards issued to minors, including by updating contractual terms even for existing agreements. Internal documents should define indicators of a minor’s possible involvement in illegal transactions, and banks are encouraged to map a teenager’s typical activity by establishing which relatives may transfer funds and who the minor’s usual beneficiaries are. Where a teenager receives large amounts from an unknown person or makes large transfers, banks should contact the minor’s representative, with contracts also able to set per-transaction limits. If a bank suspects that transactions are being conducted by someone other than the teenager or that the minor is acting under pressure, it may refuse to execute the transaction.
Central Bank of Russia 2025-09-19
Central Bank of Russia recommends banks warn teenagers and notify parents to reduce money mule and laundering risks
The Central Bank of Russia has issued supervisory recommendations to banks to address the use of minors as money mules in fraudulent schemes. The guidance emphasizes early risk warnings, parental involvement, and enhanced monitoring of minors' accounts. Banks are advised to update contractual terms, define indicators of illegal activity, and set transaction limits to prevent misuse.