Judicial Division for Commercial Matters of the Russian Supreme Court will, for the first time, consider the case over long-standing problems with banks charging overly fees on business for cash transfers to individuals

The banks explain that they apply such ‘restrictive’ charges to prevent suspicious transactions having, among others, the purpose of money-laundering and terrorism financing. The bank clients challenged such charges on numerous occasions. Elina Kriksina, Restructuring & Bankruptcy, Savina Legal, is of opinion that despite that the claim price in this dispute is slightly above RUB 100,000, the outcome of the trial will have high practical importance.