The bank warns of the risk of account blocking due to unusual transfers

A large number of transfers, frequent payments to unfamiliar people and a sharp change in the volume of transactions may raise questions for the bank, warned Sergei Igoshin, head of the anti-fraud department at Svoy Bank. In a conversation with Lenta.ru, he noted that even conscientious clients sometimes come under inspection.

According to him, anti-fraud systems respond to transactions that do not correspond to the client’s usual financial behavior. Many incoming or outgoing transfers, payments without obvious economic meaning, as well as a sharp change in the nature of transactions may be cause for concern. For example, large cash withdrawals from ATMs or frequent telephone number transfers for goods and services may appear to be unusual activity and pose a risk of involvement in money laundering schemes.

“An unusual payment in itself does not mean that the client is breaking the law. Banks are required to respond to signs of suspicious activity, so sometimes bona fide clients are also subject to inspections,” the specialist explained.

Igoshin emphasized that in such cases it is important not to ignore the bank’s request, but to explain the meaning of the transactions and, if necessary, provide documents confirming the origin of the funds. After verification, restrictions are promptly lifted in most cases, he concluded.