Clients of Sberbank who have experienced card freezes following cryptocurrency transactions can unfreeze them by providing exchange account details. This was reported by RBC, citing a representative of the financial institution.
As such operations are considered suspicious, the bank restricts card usage and requests clarification on the source of funds.
Income can be verified through a screenshot of the personal account on the cryptocurrency exchange’s website or other services that clearly identify the owner. It is also necessary to provide the website address where the cryptocurrency transactions took place, the username, and the transaction history.
A Sberbank representative urged clients not to ignore the bank’s requests “to be able to use all services without restrictions.”
Since 2018, cryptocurrencies have been recognized as a high-risk factor for Russia’s financial space.
In a letter from September 2021, the Bank of Russia classified operations with crypto exchanges as suspicious and recommended that banks conduct thorough monitoring. In cases of suspected money laundering, credit institutions are advised to block client operations and even terminate agreements.
The regulator also announced plans to develop a mechanism for blocking payments to cryptocurrency exchanges and exchangers.
In February 2024, the Bank of Russia stated the necessity to minimize the involvement of financial organizations in activities related to the circulation of digital currencies. In particular, the advertising of services for the circulation of such instruments was deemed undesirable.
Commercial banks are recommended to identify digital currency purchase and sale operations using accounts registered to fictitious individuals.