Russian Analyst Warns: Bank Cards at Risk of Being Blocked for Regular Transactions

Russian Analyst Zanozdrin: Bank Cards Can Be Blocked Due to Regular Transactions

Financial analyst Vadim Zanozdrin has outlined the conditions under which bank cards can be blocked, according to the Prime agency. Zanozdrin stated that a bank transfer, card, or even a client’s account can be blocked due to regular transactions. He explained that cards can be blocked for atypical actions using the bank’s neural network algorithm, which tracks suspicious transactions. By law, transfers exceeding 600,000 rubles, non-standard client actions, and small differences between incoming and outgoing funds are considered suspicious. The bank’s own norms are also included in the search mechanisms.

The expert added that frequent cash withdrawals, a large number of payment orders per day, and high account turnovers per month with a low balance are also considered suspicious. However, this does not mean that every transfer meeting these criteria will be blocked. When a bank suspects something, they usually contact the client personally to clarify details. If the explanations satisfy the bank employee, the investigation will show no malicious intent, and the money will be transferred as intended.



It was previously revealed that in the medium term, Russians may face an increased risk of transaction rejections both domestically and internationally. The main reason for this trend, as specified by analysts, will be changes in Recommendation 16 («Electronic Funds Transfers») developed by the Financial Action Task Force (FATF) to combat money laundering.