The Central Bank has proposed a number of amendments to protect the finances of Russians. Credit institutions must return funds stolen by fraudsters no later than 30 days.
According to the source, the law is aimed at improving the return of funds that were stolen by fraudsters from the accounts of Russian citizens. According to the new amendments, the money must be returned within 30 days. In case of fraud or loss of the card, the user must write a statement and notify the bank about the incident. In the absence of the above actions, the organization will not be able to compensate for the damage.
According to the Chairman of the Central Bank:
“The current law does not provide for a period during which banks must reimburse customers for funds stolen by intruders. The Bank of Russia proposes to establish the terms of such reimbursement. This is necessary to balance the interests of credit institutions and their clients.”
Previously, it was proposed to return funds within 2-3 days, however, such terms did not allow distinguishing a real theft from a fraudulent scheme on the part of the client. At the moment, the return period depends on the amount of stolen funds. The larger the amount stolen, the longer you have to wait for its return. In some cases, the process dragged on for several weeks. In 2021, banks recovered less than 7% of stolen funds.
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