T-Bank has identified a scheme where goods in stores are paid for with funds from crypto wallets via QR codes at self-service checkouts. RBC was also informed of its existence by the Bank of Russia.
According to Alexander Yaroshevsky, Deputy Director of the Compliance Department at T-Bank, on one side of the scheme are crypto enthusiasts, and on the other, people who value anonymity when paying.
We are observing a new processing scheme in which, on one side, ordinary users participate – conditionally, crypto enthusiasts and geeks – and on the other, users who want to maintain anonymity when paying.
The main risk lies elsewhere: such a mechanism can extend the "lifespan" of drop cards and mask other suspicious operations for banks. Drops are individuals whose cards are used to withdraw stolen money, transfer funds for shadow businesses, or cash out.
The payment itself via QR code looks familiar to the buyer, but a chain of intermediaries may be hidden behind it. Therefore, banks and the regulator monitor such schemes not as a new payment method, but as a possible channel for circumventing control.
Read more on the topic:
- T-Bank will be the first to introduce its clients to cryptocurrencies: they want to allow working with digital assets by the end of the year
- It will be possible to legally buy cryptocurrencies as early as November: The Central Bank is preparing rules for the first operations
- Bitcoin without Ruble: Central Bank Prepares Direct Cryptocurrency Exchange