The lawyer explained the reasons for the restrictions on cash withdrawals at ATMs

It has recently become more difficult to withdraw cash from ATMs due to anti-fraud measures. On March 5, lawyer Alexander Khaminsky, head of the Center for Law Enforcement in Moscow and the Moscow Region, told Izvestia about what restrictions may arise and how to act in order to avoid blocking operations.

According to him, banks may consider suspicious frequent transfers to a large number of recipients, instant transfers of funds received, transactions for large amounts without explaining the source, transactions in atypical locations, as well as the use of a personal business card without obtaining self-employed or sole proprietorship status.

Khaminsky stressed that if the bank has suspicions, it has the right to suspend the operation and request explanations or documents. In this case, the lawyer advised requesting a written response from the bank, indicating the reasons for the refusal and a list of necessary documents.

"The main thing is to show the bank in good faith and clearly that your transactions correspond to your stated activities or are used for personal purposes and are not related to money laundering or fraud," Khaminsky said.

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As the expert added, the restriction on cash withdrawal can be lifted if the client personally contacts the bank and confirms that he is acting voluntarily and is not under the influence of fraudsters. If the bank refuses, the decision can be appealed to the Interdepartmental Commission at the Bank of Russia. He also recalled that banks are not required to compensate for losses if remote service is limited, but transactions can be carried out through a bank branch. Compensation is possible only in case of an obviously illegal account blocking, the specialist pointed out.

"If a bank's client has repeatedly been subject to time restrictions and is suspected of performing questionable transactions, the bank has the right to disable remote banking services, ban transactions, and then forcibly terminate the bank account agreement," he concluded.

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On the same day, Tatyana Belyanchikova, Associate Professor of the Department of Global Financial Markets and Fintech at Plekhanov Russian University of Economics, reported that it had become more difficult to withdraw cash over the past year due to the measures the authorities were taking to combat fraud. Then she also clarified that according to the law, cash withdrawals can be temporarily limited for 48 hours if the operation is carried out at an unusual time, in an unfamiliar place or in a non-standard way. Large transfers to your own account and changes in the ways you log in to online banking are also under suspicion.

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