Large banks to provide additional functionality to mobile apps to protect fraud victims
From 1 October 2025, large banks, including those operating in the payment services market, will be obliged to add functionality to their mobile apps to enable customers to promptly report a fraudulent transfer. Victims will also be able to receive an electronic certificate from the bank about such a transfer in order to contact the police.
The new requirements are set forth in the Bank of Russia Regulation. They will simplify the procedure for submitting a complaint to law enforcement agencies.
Using the mobile apps, customers will also be able to answer the credit institution's question as to whether they performed the transaction, about which the bank received an enquiry from the regulator, under the influence of fraudsters. Such an interaction procedure applies when victims directly contact the police, and law enforcement officers request data from the Bank of Russia.
Furthermore, from 1 October 2025, all banks should accept complaints from people who have transferred cash to fraudsters' accounts via an ATM using tokenised (digital) cards, no matter whether the victim is a customer of this bank or not. Today, stealing money via tokenised cards is one of the most common fraud schemes.
From 29 March 2025, all banks will also be obliged to notify parents or legal representatives of young customers aged 14 to 18 of issuing them a card, as well as of all transactions through the young persons' accounts. The notification procedure and method should be specified in the agreement with the bank.
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