Vladimir Putin signed law on blocking cards in case of money theft suspicion

UFA, 28 June 2018. /Bashinform News Agency, Elmira Sabirova/ translated by Tatiana Aksyutina/. Russian President Vladimir Putin signed a law on countering funds embezzlement from bank cards. The document, published on the official portal of legal information, gives banks the right to suspend the transfer of funds for a period not exceeding two working days if it is suspected that a transaction is conducted without the consent of a payer.

The law is aimed at preventing unauthorized funds withdrawing from accounts. Operators of payment systems will be obliged to send to the Bank of Russia information about all cases or attempts to make money transfers without the client's consent, TASS reports.

The law will enter into force in 90 days after publication.