Overview

• State Duma financial markets chair Anatoly Aksakov said the chamber plans to pass the card-limit legislation before December.
• The draft sets two thresholds for individuals: no more than five cards at a single bank and no more than 20 across all banks, replacing an earlier idea of a 10-card overall cap.
• Aksakov indicated the restrictions could start from December, pending legislative approval and implementation.
• The Bank of Russia supports the measure, describing it as a tool against schemes using droppers to move stolen funds.
• Authorities also plan a service to let clients see where and when their cards were issued, with monitoring potentially using the central bank’s Know Your Client platform and the Digital Ministry’s anti-fraud system.