One appeared Law proposal with the objective of regulating the return of funds in case of errors in electronic transfers carried out through various platforms. This initiative seeks to modify the regulations that regulate the use of electronic money as a financial inclusion tool, and establishes that financial institutions have the obligation to reimburse the funds when an erroneous transfer occurs.
The resolution also establishes that the Superintendence of Banking, Insurance and AFP (SBS) It would be the entity responsible for designing the necessary procedures for the implementation of this measure. The SBS would have to issue a resolution that defines the corresponding guidelines. Likewise, public and private entities should adjust their internal procedures in accordance with the provisions of this law, in case it is approved.
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Congressman Flavio Cruz, of the Peru Libre Group, presented this proposal to guarantee the return of money when users make errors in electronic transfers through financial services, mobiles and digital wallets. The modification raised in the Article 5 of Law 29985 It seeks to protect consumers allowing them to receive reimbursement from their funds if an incorrect transfer is made.
“This law is intended, to incorporate literal d), to article 5 of Law 29985, law that regulates the basic characteristics of electronic money as an instrument of financial inclusion, in order to protect the consumer when it has carried out a wrong operation in Mobile financial services or digital wallets such as; YAPE, PLIN, TUNKI, AGORA PAY AND BIMwhich will allow you to return your money by said financial entity, as a consequence of the erroneous transfer of electronic money, ”is mentioned in the document.
SBS must regulate the implementation of a new financial measure, if the law is approved
According to the project, the SBS will have the responsibility to regulate and supervise the implementation of this measure. Within 30 business days since the publication of the law, the entity must establish the necessary procedures for its application, while financial entities must adapt their internal processes in accordance with the new legislation.
“The entity that corresponds to regulation and supervision, is the Superintendence of Banking, Insurance and Private Pension Fund Administrators – SBSand in the Term of thirty (30) days skilled, counted from the publication of the law, will establish through resolution the necessary procedures to guarantee the application of the provisions of article 5 of this law ”
“Likewise, the corresponding public and/or private entities, in accordance with the provisions of this Law, will adapt the internal procedures within the same period, counted from the day following the published law in the Official Gazette, the Peruvian” , is indicated in the report.
Source: Larepublica
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