Source: rt.com

Cypriot banks are auditing accounts of their Russians depositors. According to sources, the massive crackdown is due to pressure from Washington.

The lenders are now requiring Russian customers to confirm earnings and tax payments. They are requiring documentation from bank statements, estate documents, title deeds of business ownership and details of their business activities. Prior to the crackdown, they were only required to produce a passport and utility bills.

They have given their customers a choice of either closing their account or to transfer their funds to Russian Commercial Bank. The Russian Bank is a subsidiary of the Russian state run lender VTB.

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