The Rada has registered a bill that would oblige banks to return money stolen by fintech fraudsters to customers

As the bill card on the VRU website shows, the author of the legislative initiative is People’s Deputy Valeriy Hnatenko.

The explanatory note to the document states that in the event of a payment transaction not authorized by the client or incorrectly executed, the bank is obliged to reimburse the payer for the amount of such transaction and restore the balance of funds on the account, if the client himself immediately reported the payment transactions that he did not execute or that were executed incorrectly.

The draft law also states that the client is not responsible for making payment transactions if the special payment instrument was used without physical presentation by the user or electronic identification of the special payment instrument itself and its holder.

An exception to this is a situation where it has been proven that the client, by his actions, contributed to the loss or illegal use of a personal identification number or other information that allows the bank to initiate payment transactions.

As dev.ua wrote, more than half of blocked payment fraud attempts in Ukraine occur on mobile devices.

At the same time, a study was previously conducted, which showed: 68% of Ukrainians are not sure that they will be able to recognize online fraud.

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