Banks want to bind directly to pay with credit card theft

Members of the State Duma is preparing amendments to the draft law "On National Payment System." Additions include the imposition on banks obligation to inform their clients on transactions. If a bank card is lost or data will benefit fraudsters, the credit institutions will have to return the stolen funds without additional procedures and long waiting times. At this point the client is obliged to formally notify the bank about the missing funds from his account. Then, the internal investigation, which may take several months. Only after that agency decides to compensate for the loss of a client or not. Bankers fear the adoption of the rule. The market of bank cards may wave of fraud. Nothing prevents the client to give his credit card to a friend who would withdraw her money abroad, and then declare that these funds were stolen.