Customers will be able to rehabilitate in banks of the Russian Federation

After numerous complaints about overzealous actions of banks in relation to the control of suspicious transactions, the law "On combating legalization (laundering) of proceeds from crime and financing of terrorism" there were made amendments which are providing for a mechanism of «rehabilitation» for clients.

According to the latest changes, banks are obliged to inform their customers not only about the fact of refusal to conduct the operation or termination of the contract, but also about the reasons for such a decision. The client shall then be entitled to submit to the Bank proof of the groundlessness of these actions, and the Bank shall consider the submitted documents within 10 days and remove the restrictions if the materials prove to be reasonable and convincing. In case of repeated refusal to conduct the operation, the client has the right to file a complaint with a special interdepartmental Commission at the Central Bank.

The interdepartmental Commission reports on the made decision to the applicant and the corresponding financial organization for which it is obligatory not later than three working days from the date of its acceptance.

On materials of the following website: http://www.fedsfm.ru/news/2979