-111f0e5095e02c02446ffed57bfb0ab1.jpeg "Photo of Roman Kohanets")
Russian banks have started temporarily blocking large cash withdrawals at ATMs and calling customers to confirm transactions, Meduza reported on December 31.
The outlet reported that when customers attempt to withdraw a “significant” amount—without specifying a threshold—the ATM transaction is halted and the bank contacts the cardholder to confirm the withdrawal.
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After confirmation, the customer is told the transaction can be repeated in five minutes, and a second attempt results in the cash being dispensed.
The tightening comes as the Bank of Russia moves to broaden the set of indicators banks use to flag suspected fraud from January 1, including patterns tied to the Faster Payments System and cash operations.
The updated criteria include transfers above about $2,557—at the Bank of Russia’s official December 31 exchange rate—followed by a transfer to a third party within 24 hours, as well as attempts to deposit cash via an ATM using a tokenized “digital” card and other signals such as a recent phone-number change used for authentication.
Meanwhile, it was reported that a Russia–China “super-app” project planned to support Russia’s Faster Payments System and integrate with Chinese payment services for ruble and cross-border transfers.
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