Banks will be obliged to reimburse customers for money stolen by fraudsters in Russia

Russian President Vladimir Putin signed a law improving the mechanism for countering the theft of funds from bank accounts. The corresponding document is published on the official portal of legal information.

By law, banks must check the receipt of funds for signs of fraud and return stolen funds to customers if transactions are made without their consent. Also, banks can freeze transactions for two days in case of suspected fraud or completely disable remote services.

As Bashinform News Agency learned, the document assigns to transfer operators the obligation to refund the amount of stolen money to an individual or increase the balance of electronic funds in full if the bank received information from the Central Bank indicating the operation without the client's consent. Reimbursement terms - 30 days after receiving the client's application for the refund of the amount, in the case of a cross-border transfer - within 60 days. Exceptions will apply to cases where the money transfer operator proves that the client has violated the procedure for using the electronic means of payment.

To improve the current mechanism for combating theft of funds, the payer's and recipient's bank will check transactions for signs of fraud. The recipient's bank will now check with the Central Bank's database of cases or attempts to transfer funds without the client's consent.