The Central Bank urged banks to identify transfers through cryptocurrency exchanges using corporate cards

The Bank of Russia recommended credit institutions to strengthen control over transfers between individual cards and corporate cards of so-called 'technical companies' — legal entities without signs of real activity.

Such firms are often used by the 'shadow business', which the regulator associates with online casinos, cryptocurrency exchanges, financial pyramids, or drug dealers.

Banks have been advised to detect such operations through online monitoring 'in a mode close to real-time', as well as to analyze the transactional profile of the client.

If a client has 'counterparties that previously transferred money to drop services' or companies with signs of fictitious activity, the bank may restrict operations, for example, impose limits on transfers from individuals or prohibit cash deposits.

The Central Bank emphasized that the recommendations are not mandatory but complement existing measures to combat money laundering and the financing of terrorism.