As specified, banking institutions want to get right to charge for account maintenance or for the benefit of the credit in those cases when the client changed identity (e.g. passport), while it is not contacted to provide updated information. It is noted that this initiative is considered only in the framework of the “regulatory guillotine” of the Central Bank, as a mechanism for improving the current normative-legal base on regulation of the financial market.
According to the authors, this provision will allow customers to avoid fines and penalties if they did not announced the replacement of passports and banks to prevent fraud on “sleeping accounts”.
“the Changes will allow credit institutions to receive money for services already rendered – maintenance of accounts and issuance of credit. The client will not be formed debt and accrued penalties,” provides in material opinion supported the initiative of the Bank UniCredit. Other banks noted that “so to have to deal with scammers who utilize the “dormant accounts” for questionable transactions” and “amendments do not bear the risk of money laundering”.
Recall that according to the AML / CFT law, financial institutions must annually update the information about clients, and not lose its relevance at the time of the transaction.
