New rules for cash payments will be in effect in the Russian Federation

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The new rules for the circulation of money will come into force after the New Year.

Changes will occur in the rules for withdrawing cash from ATMs, as well as for some transfers.

These rules are aimed at combating the legalization of illegal incomes. Experts told Ekonomika Segodnya that the new rules will make life easier for legal businesses and close loopholes for companies with double-entry bookkeeping. Payments through non-banking institutions and anonymous accounts will be removed from the list of transactions subject to control. Specific operations of banks, the organization of insurance spheres, credit cooperatives and microfinance organizations will take special control.

Leasing contracts and any banking operations worth over 600 thousand rubles will come under control.

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