Even if the scammers managed to get the client’s consent
Today, at the plenary session, the State Duma adopted in the second and third readings the law on additional protection of citizens from financial fraudsters.
The new law will oblige money transfer operators, such as banks and payment processors, to check for suspicious transactions and to suspend clearly fraudulent transactions between individual accounts, even if there is the consent of the client.
New law: State Duma obliges banks to return stolen money to victims of fraudsters
State Duma Chairman Vyacheslav Volodin explained:
We are talking about cases when scammers use deception to obtain consent from their victim for the transfer. Older people are especially vulnerable. It comes to the fact that deceived citizens give the last to criminals: they sell property, take loans. This needs to be stopped.
Volodin clarified that after the adoption of the law, banks and other operators will be required not only to check suspicious transfers more carefully, but also to take measures so that citizens’ funds do not fall into fraudsters. And those banks that will neglect these duties will have to return the stolen money to people.
The money must be returned in full within 30 days after receiving the client’s application, and in the case of a cross-border transfer – within 60 days. Moreover, we are talking about transactions performed without the voluntary consent of the client. And the text of the law specifically stipulates that the absence of voluntary consent also includes cases where the client’s consent was obtained “under the influence of fraud or breach of trust.”
