The authorities propose to force banks to verify the tax residence of clients through geolocation. This is clear from the draft government resolution reviewed by Izvestia.
Location will be determined upon logging into the online bank; If signs are found that the user lives abroad, proof of residence will be asked and the data will be transferred to the Federal Tax Service (FTS).
Banks may also request additional information about the customer’s place of residence. And if you do not provide the requested documents, the bank may stop carrying out transactions on your account, as well as terminate the contract unilaterally.
No decision has yet been made on the initiative, the Ministry of Finance informed the publication. The Federal Tax Service also added that the draft regulatory law should start a discussion on the mechanism. After which the amendments may be finalized or declared inappropriate, they noted.
- When issuing a loan, banks will require a TIN from Russians. This is how organizations will check if the client has a self-ban: The law that will establish this protection mechanism against scammers will come into force in 2025.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
