Security

Russian banks beings requiring verification for large cash withdrawals

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January 2, 2026

Russian banks have been blocking large cash withdrawals at ATMs. The bank will then contact the customer to confirm the withdrawal and allow them to complete it in five minutes time, according to a report by United 24 Media.

This is part of an effort to flag and prevent fraud. It flags withdrawals above $2,557, according to the report.

The system also flags attempts to deposit cash using a tokenized digital card, or changing their phone number and trying to use it for authentication.