Under this proposal, banks would be required to refund customers some of the money stolen from fraudsters’ accounts. The purpose of this measure is to encourage credit institutions to establish a more effective cybersecurity system.
This proposal has caused consternation in the banking community, and lawyers say the initiative is difficult to implement and does not work very well.
Representatives of credit institutions insist on the need for joint responsibility, including cooperation with law enforcement and regulatory bodies.
According to the Central Bank of Russia, 14.2 billion rubles were stolen from Russians in 2022, and this amount is expected to increase to 19 billion rubles in 2023.
In August 2023, Tinkoff Bank launched a service for returning funds stolen by phone fraudsters using a fraud monitoring system enhanced by artificial intelligence technology.
Source: Ferra
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
