The Bank Requested Documents and Explanations
The company needs to demonstrate genuine business activity, the economic rationale of transactions, relationships with counterparties, the source of funds and the nature of its expenses.
BANK • 115-FZ • ZSK • MVK
Legal Support under Federal Law No. 115-FZ
We help businesses respond to bank information requests, transaction refusals, restrictions on remote banking services and high-risk classifications. We analyze transactions, reconstruct their economic rationale, prepare the supporting evidence package and assist with review of the bank’s decision.
We first determine exactly what restriction has been applied and on what legal basis. The next steps depend on that distinction.
WHEN LEGAL SUPPORT IS NEEDED
What Happened?
The Bank Refused to Process a Transaction
There is a formal decision or notice of refusal, and its legal basis needs to be identified before documents are prepared for review.
Online Banking or Other Remote Services Were Restricted
Payments or account management through remote channels have been restricted, and the legal and contractual basis for the measure needs to be identified.
The Bank Refused to Open an Account
The bank’s notice and the circumstances of the refusal need to be reviewed to determine the applicable procedure for providing documents and further challenge.
The Business Received a High-Risk Classification
It is necessary to identify who assigned the classification, what restrictive measures have been applied and which review procedure applies to the specific situation.
The Same Problems Have Arisen with Several Banks
The overall transaction history, counterparties and recurring reasons for concern need to be analyzed rather than preparing unrelated explanations for each bank.
The Bank Did Not Change Its Decision After Receiving Explanations
The first review stage has been completed, but the bank considers the grounds for the restriction unresolved, and it is necessary to determine whether a further application to the Interagency Commission or court proceedings are available.
You Are Not Sure Whether the Problem Is Actually Related to 115-FZ
The bank has restricted payments, cards or online banking, but the notice does not make clear whether the measure is based on Federal Law No. 115-FZ, the anti-fraud mechanism under Federal Law No. 161-FZ, or another legal basis.
Nikolay NemkovManaging Partner, Konsultant Law Firm
Managing Partner’s Commentary
Nikolay Nemkov on Bank Restrictions under 115-FZ
Why a response to the bank should explain not only an individual payment, but the company’s business model as a whole: where the money comes from, what counterparties are paid for, and which documents confirm genuine business activity.
Key Points
- 01What type of restriction has been applied
- 02Which transactions raised questions
- 03Which documents demonstrate their economic rationale
APPROACH
First Identify the Restriction. Then Choose the Legal Response.
The phrase “the bank blocked the account” can describe very different situations. A refusal of a specific transaction, a restriction on remote banking services, a high-risk classification and suspension of an electronic payment instrument may have different legal grounds and different review procedures. An error at the first stage can result in applying to the wrong body and losing time.
01
Bank Decision
We review notices, information requests, refusals, messages in online banking and the terms of the banking relationship.
02
Transactions
We analyze cash flows, counterparties, payment descriptions, tax burden, cash operations and other circumstances that may have affected the bank’s assessment.
03
Genuine Business Activity
We connect the transactions with contracts, supplies, services, employees, premises, equipment and other evidence of actual business operations.
04
Review Procedure
We determine the correct sequence: explanations to the bank, review of a refusal, an application to the Bank of Russia, the Interagency Commission, or court proceedings — depending on the specific decision.
WHAT WE DO
What Our Work under 115-FZ Includes
Identify the Type of Restriction
We review requests, notices, refusals, risk level, remote banking restrictions and other bank actions so that different legal procedures are not confused.
Analyze the Transactions
We review cash flows, contracts, counterparties, tax burden, payroll, mandatory expenses, cash transactions and the economic logic of payments.
Build the Evidence Package
We collect contracts, acceptance certificates, delivery documents, invoices, correspondence, tax and accounting records and other materials confirming actual business activity.
Prepare Explanations for the Bank
We do not simply send a folder of documents; we connect them into a coherent explanation of the business model and the economic rationale of the transactions questioned by the bank.
Assist with Review of the Bank’s Decision
We prepare documents showing that the grounds for the earlier refusal are absent and work with any additional questions from the financial institution.
Work with the Bank of Russia and the Interagency Commission
Where the law provides a basis for further review, we select the appropriate procedure based on the type of decision, the risk assessment and the result of the previous application to the bank.
Prepare Court Proceedings
If the out-of-court procedure has not resolved the issue and there are legal grounds for a claim, we analyze possible claims against the bank, the evidence, losses or disputed fees and prepare the court position.
EVIDENCE
What Demonstrates Genuine Business Activity
Transactions and Counterparties
Contracts, schedules, specifications, invoices, delivery notes, acceptance certificates and universal transfer documents. Correspondence, applications, commercial offers, shipping documents and evidence of actual performance.
Resources
Employees, premises, machinery, vehicles, equipment and other resources necessary for the declared business activity.
Finances
Tax and accounting reports, payroll, mandatory expenses and documents explaining the movement of funds.
Business Model
An explanation of who the company’s customers are, how it earns revenue, why it selects particular counterparties and the economic rationale of its transactions.
ZSK PLATFORM
The “Know Your Customer” Platform Is a Risk Assessment, Not a Final Judgment
The Bank of Russia’s “Know Your Customer” Platform provides credit institutions with information on the risk that their clients — legal entities and individual entrepreneurs — may be involved in suspicious transactions. The ZSK Platform does not assess natural persons.
The Bank of Russia classifies businesses into three risk groups: low, medium and high. At the same time, information from the ZSK Platform is auxiliary for the credit institution: the bank independently determines the client’s risk level under its internal control rules.
The special restrictive measures under Article 7.7 of Federal Law No. 115-FZ apply only where the statutory conditions are met, including where the client has been assigned a high-risk level both by the Bank of Russia and by the credit institution. A high-risk indication by itself therefore requires first determining who assigned it and what measures have actually been applied.
REVIEW
There Is No Single Universal “115-FZ Application”
Bank Refusal of a Transaction
First — Apply to the Bank
The client may provide the financial institution with documents and information showing that there were no grounds for the earlier refusal. The financial institution must review them and communicate the result no later than seven business days after submission.
If the bank states that the grounds for the refusal cannot be eliminated based on the documents provided, the client may, where the statutory conditions are met, proceed to the procedure for applying to the Interagency Commission at the Bank of Russia.
High ZSK Risk
First Identify the Source of the Assessment and the Measure Applied
If the client disagrees with a high-risk level assigned by the ZSK Platform, there is a procedure for applying to the Bank of Russia for review.
If the high-risk classification is the same at the Bank of Russia and the credit institution and the restrictive measures provided by Article 7.7 have been applied, the protection procedure includes the special mechanisms for challenging those measures, including an application to the Interagency Commission where provided by law.
The procedure depends on the specific decision. We do not send a client to the Interagency Commission merely because the bank’s message mentions 115-FZ.
DEADLINES
Deadlines for Certain Procedures
7 business days
the period for the bank to review the client’s documents when reviewing a refusal under the procedure provided by law
up to 20 business days
the general maximum period for the Interagency Commission to consider an application covered by the statutory procedure
5 business days
the period within which, when the specified ZSK restrictive measures apply, the bank informs the client about those measures and the Bank of Russia’s high-risk assessment
These are deadlines for specific procedures, not an overall timeframe for all legal work.
WHAT GETS IN THE WAY
Why a Large Set of Documents May Not Solve the Problem
01
Documents Without an Explanation
The bank receives dozens of files but cannot see how they relate to the transactions in question or to the client’s business model.
02
An Explanation Limited to One Payment
The response ignores the company’s overall structure of incoming funds, expenses, counterparties and tax burden.
03
Documents and Transactions Do Not Match
Payment descriptions, contracts, acceptance documents and the actual movement of money do not form a clear sequence.
04
Wrong Review Procedure
The client applies to the Bank of Russia, the Interagency Commission or a court without first completing the prior stage required for the particular decision.
Konsultant Law Firm
The firm has been practicing since 2007. We handle litigation and complex legal matters for businesses in Krasnoyarsk, Moscow and other regions of Russia.
Since 2007
in legal practice
1,000+
court proceedings
Across Russia
Krasnoyarsk • Moscow • other regions
The Bank Needs an Explanation of the Business, Not an Archive of Documents
A large volume of documents does not by itself explain why the company received money, to whom and for what it made payments, or how the transactions relate to genuine business activity.
Contracts, acceptance documents, reports and bank transactions therefore need to be connected into one coherent explanation: what the company does, who its customers and suppliers are, what resources it uses and why particular payments make economic sense.
How We Start Working on the Matter
01We Obtain the Bank’s Decision
An information request, notice, refusal, high-risk message, remote banking restriction or another document showing the legal basis applied.
02We Reconstruct the Transactions
We identify the questioned payments, counterparties, relevant period, tax burden and the company’s overall financial model.
03We Assemble the Evidence
We connect bank transactions with contracts, performance of transactions, company resources and accounting documents.
04We Choose the Procedure
Explanations to the bank, review of a refusal, an application to the Bank of Russia, the Interagency Commission or court proceedings — depending on the actual legal basis of the restriction.
MANAGING PARTNER
Konsultant Law Firm Lawyers
Managing Partner, Konsultant Law Firm
Nikolay Nemkov
More than 20 years of practice in complex property and corporate disputes. Practicing insolvency practitioner.
Questions About Bank Restrictions under 115-FZ
If the bank blocked the account, is it necessarily related to 115-FZ?
No. The specific measure and its legal basis must first be identified. The bank may refuse an individual transaction, restrict remote banking services, apply measures related to a high-risk classification, or the restriction may relate to anti-fraud mechanisms under Federal Law No. 161-FZ. These situations have different review procedures, so the phrase “the account was blocked” is not enough to determine the correct legal position.
Which documents should be sent to the bank in response to a 115-FZ request?
The list depends on the transactions and the bank’s questions. Relevant materials may include contracts, schedules, specifications, invoices, acceptance documents, delivery documents, correspondence, documents relating to employees and business resources, tax and accounting reports and documents relating to particular payments. The key issue is not the number of files, but whether they can be connected to genuine business activity and the economic rationale of the transactions.
How long does the bank review documents after refusing a transaction?
If the client provides documents and information showing that there were no grounds for the earlier refusal to perform the transaction under paragraph 13.4 of Article 7 of Federal Law No. 115-FZ, the financial institution must review them and communicate the result no later than seven business days from submission. This is the deadline for that stage of review, not a guaranteed timeframe for resolving the entire banking issue.
What is the Bank of Russia’s “Know Your Customer” Platform?
It is a Bank of Russia service that provides banks with information on the risk that their clients — legal entities and individual entrepreneurs — may be involved in suspicious transactions. The Bank of Russia uses three risk groups: low, medium and high. The ZSK Platform does not assess natural persons. At the same time, the credit institution conducts its own assessment of the client.
Can a high-risk ZSK classification be challenged?
Yes. Russian law and Bank of Russia mechanisms provide review procedures, but the route depends on the specific situation. If an entrepreneur disagrees with a high-risk assessment assigned by the ZSK Platform, an application for review may be submitted to the Bank of Russia. If the high-risk classifications of the Bank of Russia and the credit institution coincide and the statutory restrictive measures have also been applied, the applicable challenge procedure must be identified separately, including whether an application to the Interagency Commission is available.
When can an application be made to the Interagency Commission?
For a bank decision refusing a transaction, or a refusal to open an account where the statutory review procedure applies, the client must first use the mechanism for providing documents to the financial institution itself. If the institution states that the grounds cannot be eliminated based on the documents provided, the client may, where the law permits, apply to the Interagency Commission at the Bank of Russia. Separate rules apply to certain measures related to a high-risk classification. The legal basis and sequence therefore need to be determined from the specific decision.
How long does the Interagency Commission consider an application?
The general period for the Interagency Commission to consider applications and accompanying documents covered by Federal Law No. 115-FZ may not exceed twenty business days from the date of the applicant’s submission. This is the maximum period for the Commission’s consideration of the application, not the overall timeframe for restoring banking services.
Let Us Determine What Decision the Bank Has Made
State the bank, what happened and the date of the latest notice. If you have an information request, transaction refusal, high-risk notice or the bank’s response after review, those documents will help identify the correct procedure.