Rosfinmonitoring Denies Mass Bank Account Blocks Over Partial Data Matches with Sanctions Lists
Rosfinmonitoring has refuted media claims suggesting that new rules could trigger a wave of bank account blocks for Russian citizens whose data partially matches entries on asset-freeze lists.
The agency emphasized that the draft legislation is designed to prevent ordinary people, including those sharing surnames or having minor transliteration differences in names, from becoming victims of overly broad anti-fraud measures.
According to Rosfinmonitoring, specific criteria for partial data matches remain undefined. They will be introduced through a dedicated order only after the federal law takes effect and practical cases have been reviewed.
Most issues arise from variations in name spelling during transliteration rather than any shared financial history between unrelated individuals.
The regulator separately noted that the proposed rules allow only temporary suspension of a transaction. There will be no automatic rejection of operations or indefinite blocking of entire accounts.
Earlier coverage in Izvestia had raised concerns that vague partial-match standards could produce many false positives, potentially restricting access to banking services for law-abiding clients.
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