The Central Bank of Russia has sent recommendations to credit institutions setting out a procedure for individuals to document a refusal to have fraudulently transferred funds credited to their accounts and to return the money to victims. The guidance is intended to improve banks’ interaction with customers whose details have been entered into the regulator’s fraud database. Banks are advised to let customers submit refusal applications at branches, via hotline telephone numbers, or through online banking systems. The applicant should include the number of the relevant request regarding authorised fraud (REQ), which the Central Bank of Russia will provide after reviewing the individual’s application to remove their details from the database. Once the bank receives the refusal application, it should return the fraudulent amount to the payer’s bank, which should then credit the victim’s account and send the relevant information to the Central Bank of Russia; this information will be taken into account when deciding whether to remove the customer from the fraud database. The Central Bank of Russia will monitor banks’ compliance with the recommendations.
Central Bank of Russia 2026-02-11
Central Bank of Russia issues recommendations on refusing to credit and returning funds received via fraudulent transfers
The Central Bank of Russia recommended credit institutions facilitate the process for individuals to refuse fraudulent fund transfers and return money to victims, enhancing interaction with customers in the regulator’s fraud database. Banks should accept refusal applications through various channels and return fraudulent amounts to the payer’s bank, which will credit the victim’s account and report to the Central Bank.