Western Union has Sharply Limited the Amount of Transfers Abroad
OREANDA-NEWS From July 22, the Russians will not be able to transfer more than 600 thousand rubles to one country via Western Union. within a month. The payment system imposes a limit to comply with the law on combating money laundering and the financing of terrorism.
The payment system Western Union has set the maximum limit for cross-border transfers by one client to one country at the level of 600 thousand rubles. per month. New rules begin to operate from July 22. Information about this is contained in a letter that the payment system sent out to its partners (RBC has read it), as well as on the official website of Western Union.
Restrictions are part of a set of activities that the payment system conducts in accordance with the requirements of the law on combating money laundering and terrorist financing, as well as in accordance with the recommendations of the Central Bank of January 14, 2019, aimed at increasing the attention of credit organizations to certain clients' transactions, a letter. They are introduced “in order to minimize the risks of using the Western Union system for illegal purposes”.
The current restrictions for cross-border transfers are $ 5 thousand for a single operation.