Banks can get the right not to transfer money according to the writ of execution

The Ministry of Justice has taken the initiative to introduce a number of amendments to the law on enforcement proceedings. Innovations should contribute to the suppression of the withdrawal of money abroad under the guise of fictitious judicial debt.

The problem with creating a non-existent debt, obtaining a writ of execution for it and then collecting funds in favor of a company with an account in a foreign bank has been brewing for several years. Amendments to the law were submitted for discussion back in 2019, but then there were questions about them. At the moment, the government commission has already approved a new version of the bill.

The document suggests limiting the possibility of transferring funds on writ of execution only to the Russian jurisdiction.

This means that upon receipt of the enforcement document, it is possible to recover the amount specified in the judicial act only to an account opened in a Russian bank. As for situations when a foreign bank and the corresponding account are indicated in the writ of execution, the credit institution that received the sheet has the right to return it to the recoverer.

In addition, banks will be able to refuse to execute the transfer in a situation of suspicion of money laundering. The retroactive force of the amendments has also been established. This means that from the moment of the adoption of the law, those writ of execution in which the details that do not correspond to the new norm, that is, the accounts of foreign banks, may not be executed until the Russian details are provided for debiting, RBC reports.