Banks Will Return Stolen Money To Customers Within 30 Days

[ESCO]

The regulator believes that this will help to balance the interests of banks and their customers. The Bank of Russia plans to establish a mandatory deadline for the return of stolen funds for credit institutions. If the fact of a money transfer is established without the consent of the client, the bank will have to return the money to him within 30 days, RBC reports. "The current law does not provide for the timeframe during which banks must reimburse customers for funds stolen by intruders," said a representative of the Central Bank of the Russian Federation, adding that the regulator proposes to set a period for such reimbursement at 30 days. According to him, this will help to balance the interests of banks and their clients. The discussion of these measures with the market continues, so it is premature to talk about specific dates, he added.




According to the Central Bank, last year the attackers stole 13.5 billion rubles from bank customers. At the same time, credit organizations returned only 920.5 million rubles.
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