The initiative has already passed the first reading procedure with a proposal to amend it. The text is proposed to be supplemented with provisions that banks will be required to check all transactions for the transfer of funds to fraudsters. If there are reasonable concerns, it is proposed to suspend operations for up to 2 days.
The current version of the law already contains provisions on the conditions under which banks are required to compensate their customers for losses. However, all these cases require the presence of the bank's own fault, which is not always the case. The new version, which will come into force if this bill is adopted, will establish the obligation of banks (both payer and recipient) to check transactions for the transfer of funds to fraudsters. Banks will have to compare the details of the recipient with the data entered into the database of the Central Bank on accounts allegedly belonging to fraudsters.
If banks perform this duty in bad faith, the law will impose on them responsibility for damage to customers and oblige them to compensate losses in full.
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