What should you do if a transaction is refused under Federal Law No. 115-FZ?

In order to minimize risks and protect clients' interests, The bank checks transactions for compliance with the Federal Law No. 115-FZ dated August 7, 2001, "On Counteracting the Legalization (Laundering) of Criminally Obtained Income and the Financing of Terrorism" (hereinafter referred to as the "Law No. 115-FZ").

Law No. 115-FZ provides for:

• the possibility for a credit institution to refuse to conduct a transaction in cases where the transaction meets the criteria of a suspicious transaction and has no apparent economic purpose,
• the Client's right to apply to the credit institution that made the decision to refuse the transaction, by providing documents and/or information confirming the absence of grounds for making the refusal decision.
  

What to do if The bank has refused to conduct a transaction:

Submit to The bank an Application for elimination of the grounds for refusal (hereinafter referred to as the Application).

The Application must be accompanied by documents and/or information (the list is provided at the bottom of the page) confirming the absence of grounds for making the decision to refuse the transaction, as well as any other information relevant to The bank's review.

Procedure for submission to The bank

You may submit the Application in hard copy with supporting documents to The bank's servicing branch  or send a scanned copy of the Application (with scanned copies of the documents attached) via the remote banking service system (hereinafter referred to as the Uralsib Online System).

Review period and notification

Your Application will be reviewed within 7 (seven) business days from the date it is submitted to The bank.

You will be informed of the review results by means of a Notification sent through the Uralsib Online System, and if unavailable, by postal mail.

Requirements for the Application

The Application must be executed in hard copy, contain the signature of the Client's authorized representative, and a seal (if any).

Requirements for documents

Copies of documents must be certified by the Client's authorized representative: the documents must bear the notation "true copy", indicate the surname, first name, patronymic, and also include a handwritten signature, certification date, and seal impression (if any).

In accordance with the Comprehensive Banking Service Rules, The bank may leave the Application without substantive review if the following circumstances are identified:

• The Application is submitted to The bank not in the prescribed form;
•  the requirements for the execution of the Application and documents have not been met;
•  the text of the application is illegible or does not make it possible to determine the substance of the application; 
• documents (information) that may confirm the absence of grounds for making the decision to refuse the transaction have not been attached to the Application; 
• if inaccurate information about the Client is identified; 
• if the Application contains obscene and/or offensive language, threats to the life, health, or property of The bank's employees or other persons;
• if, as of the date of submission of the Application, there is a decision of The bank previously made in respect of the Client and concerning the same subject matter of the application.