Russian banks must check customers when withdrawing cash starting September 1st

Russian banks in the Russian Federation are now required to check customers when withdrawing cash starting on September 1st. This new rule applies to transactions involving amounts over 50,000 rubles. The obligation for banks to verify customers when withdrawing cash has officially come into effect. As of September 1st, if there are signs of suspicious or illegal activity, customers will need to undergo additional checks. This measure is aimed at preventing financial crimes and money laundering in the Russian banking system.