📋 Tender Overview
The State Duma has adopted in the first reading a bill aimed at reducing the illegal turnover of precious metals and precious stones. The document, initiated by the Russian government, amends the law "On combating the legalization (laundering) of proceeds from crime and the financing of terrorism."
The bill establishes the obligation of banks to send information to Rosfinmonitoring on transactions with precious metals and precious stones, on the crediting of funds to the account or the debiting of funds from the account of a legal entity or individual entrepreneur engaged in the purchase and sale of precious metals and precious stones, jewelry and other products made of precious metals and (or) precious stones, scrap of such products, in the amount of over 1 million rubles. The draft law also provides for the obligation to send information on the purchase/sale by banks of precious metals in bars, coins made of precious metals and processed natural diamonds to individuals, on the purchase/sale by an individual entrepreneur or legal entity from a credit institution for cash or non-cash payments of coins made of precious metals and processed natural diamonds in the amount of over 1 million rubles.
The bill introduces a ban on writing off funds from a bank account of a legal entity or individual entrepreneur on behalf of the legal entity or individual entrepreneur if the legal entity or individual entrepreneur is included in the list of participants in the precious metals and precious stones market who violate the legislation in the sphere of circulation of precious metals and precious stones in terms of compliance with the mandatory requirement for registration in a special account in the state information system of precious metals and precious stones.
The procedure for forming and communicating to banks the list of such organizations, as well as the criteria for inclusion, the procedure for appealing the inclusion of organizations in the list, and the procedure for excluding organizations from the list will be established by the federal body exercising functions for developing state policy and legal regulation in the sphere of production, processing and circulation of precious metals and precious stones, in agreement with the Bank of Russia.
In addition, transactions involving the receipt by an individual of funds using a bearer check issued by a non-resident, as well as the contribution by an individual of funds in cash to the authorized (contributed) capital of an organization, are excluded from mandatory control.
