The State Duma adopted in the second and third readings a law obliging banks to reimburse citizens for stolen funds if they were transferred without the voluntary consent of the client.
According to the document, the money transfer operator will be obliged to refund the amount of the transaction performed without the voluntary consent of the client within 30 days after receiving the relevant application from the client, and in the case of a cross-border money transfer – within 60 days, unless he proves that the client has violated the procedure for using an electronic means of payment, which entailed the transaction without the voluntary consent of the client.
The amount must be returned in full.
The explanatory note says that in order to improve the existing “anti-fraud” mechanisms, it is proposed to oblige not only the payer’s bank, as it is now established, but also the recipient’s bank to check transactions for signs of fraud, including reconciliation with the database of cases and attempts to transfer funds without consent client maintained by the Bank of Russia.
It is also proposed to give banks the right not to accept orders for obviously fraudulent transactions for execution within two days, even despite the consent of the client.
Source: Rosbalt
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