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- The burden is on the case: amendments on the "cooling-off period" in consumer lending will be considered as a priority
The burden is on the case: amendments on the "cooling-off period" in consumer lending will be considered as a priority
The State Duma will consider the bill on the "cooling-off period" from the moment clients sign a loan agreement until they receive funds as a matter of priority, said Vyacheslav Volodin, Speaker of the House. The Bank of Russia told Izvestia that it will continue to improve rules for financial organizations aimed at combating fraudsters. Why changes are necessary and how effectively they will help to protect against criminals, "Izvestia" analyzed.
Continued improvement
The bill takes into account the proposals that the Bank of Russia developed and presented in October, explained "Izvestia" in the press service of the Central Bank.
"It will allow to protect citizens who, under the influence of malicious persons, draw up loans and credits and hand over the money received to them. The Bank of Russia will continue to improve the rules for financial organizations aimed at solving this problem", - added representatives of the regulator.
In recent years, the confrontation between fraudsters and vendors of antifraud solutions, financial companies and regulators resembles a non-stop race against the clock, in which criminals demonstrate a high level of automation, sophisticated attacks and rapid adaptation to antifraud rules, said "Izvestia" head of Fraud Protection Department of F.A.C.C.T. company Dmitry Ermakov. Dmitry Ermakov.
Technical solutions using session-based antifraud have made it possible to detect the activity of attackers at the very beginning of an attack. But the effectiveness of protection tends to zero if the fraudsters manage to get in contact with the victim and impose their will on him, make him fulfill their demands.
- I believe that it is necessary to stop the attackers at the very beginning of the attack. Participants in each individual industry and the market as a whole should be able to verify the final recipient and its reputation for any transaction that could lead to financial fraud. Now the vector of analysis is shifted to the sender. As a vendor, we have taken into account all the accumulated experience and created a unified data exchange platform that we offer to all market participants," he said.
The effectiveness of the fight against fraud also largely depends on monitoring systems and identification of cash flow chains, Roman Kornev, Director for Bank Ratings at Expert RA, told Izvestia. Therefore, it is important to strengthen the work to identify fraudsters, to introduce mechanisms that will effectively track in whose hands the money goes after the identified cases of fraud. This will help prevent the spread of fraudulent schemes in the future.
The innovation is an attempt to reduce the damage, said Natalia Kasperskaya, Chairman of the Board of the Association of Software Developers "Domestic Soft", President of the InfoWatch Group of Companies. It is unclear how effective it will be. Closing access to credit may reduce the risk of victims receiving credit funds, but it will not affect the victim's ability to give his last shirt to the fraudsters.
- It seems to me that we need to work with mobile operators to prevent calls to citizens. I talked to a representative of the Ministry of Internal Affairs, and they say that zombified people do not even listen to police officers when the crime is already in progress. In other words, the task is to prevent fraudsters from reaching citizens at all," she emphasized.
Return of funds
The changes will be effective if there will be a mechanism of return of credit funds already transferred to fraudsters, believes the expert on the stock market "BKS World of Investments" Evgeny Mironyuk.
- By analogy with chargeback on plastic cards, the cooling-off period itself in most cases will not allow the victims of fraudsters to avoid credit processing, as it provides for the refusal of credit in the period of up to 48 hours with the return of the full amount of the loan body. At the same time, the funds received as a loan due to the manipulations of fraudsters are most often immediately transferred to other accounts and cashed out after a chain of transfers," the expert told Izvestia.
In combination with the mechanism of chargeback "cooling off period", according to him, will allow to challenge some operations. Sometimes it can be used to return the money that was debited from the card. In the "Mir" system, such a procedure is called "dispute". However, it is not provided for in bank transfers "according to account details" if the funds have already reached the recipient.
The bill on the "cooling off period" in consumer lending is an expected tool in the systematic and large-scale fight against financial fraud in the country, says the director of the program of the Federal Methodological Center for improving financial literacy of the population of the Presidential Academy Nina Gukasova.
- Giving citizens the opportunity to think about the need for credit in the current life circumstances, to check the legality of the upcoming transaction, as well as the time provided (from 4 to 48 hours, depending on the amount of credit) to report to the appropriate authorities on the criminal intentions of persons offering to issue a credit product - all these are coherent and reasonable steps towards the formation of financial culture of Russians, - said the expert in conversation with "Izvestia". - The content of the bill uses an activity-based approach in terms of equipping citizens with a specific algorithm of actions in a situation with the use/rejection of a consumer credit product.
Social engineering, actively used by modern fraudsters, is designed for emotional, situational decisions of victims. "Cooling-off period" in this case becomes an effective method of struggle, pushing a potential consumer of financial services to a preliminary reflection of their own actions and conscious decision-making.
- Along with this, there are still a number of bills containing a number of new and effective measures that can encourage citizens to use financial services, means of communication, messengers with caution and consciousness: a ban on online loans, temporary freezing of the account when changing the phone number, auto-detection of calls, microloans only on the bearer of documents, a ban on messengers for government agencies, a ban on mass advertising calls, blocking SMS in the process of conversation, biometrics for protection, - she said.
As noted by the Central Bank, fraudsters were most active in the third quarter of this year, having bilked citizens out of a record 9.3 billion rubles, recalled "Izvestia" member of the General Council of "Business Russia" Vladimir Prokhorov. At the same time, telephone fraud remains one of the most popular methods of deception.
- "The cooling off period will help, but it should be understood that not everyone is able to objectively change their decision during this period. Nevertheless, definitely, a part of citizens will be able to avoid negative consequences from the actions of fraudsters. In general, given the sharp growth of various schemes to extract funds and savings of citizens, any action on the part of the state to protect them today is extremely relevant, - says the expert.
The government and banks continue active work on the prevention of possible offenses, said "Izvestia" State Duma deputy Boris Gladkikh.
- The issue of blocking calls through messengers is already being discussed. Some calls from abroad are blocked by default, especially if the numbers are blacklisted by both banks and telecom operators. The installation of voice bots and secretaries on phones to communicate with fraudsters is promoted through advertising," the politician said. - The FSB monitors call centers on a daily basis and blocks possible communication channels. The database of fraudulent numbers is expanding daily. Work in this direction is carried out regularly.
It is necessary to further tighten control over microfinance organizations, Fedor Sidorov, founder of the School of Practical Investment, told Izvestia. Many cases of fraud are related to illegal or semi-legal companies, so it is necessary to strengthen their inspection and liability.
The Ministry of Energy redirected Izvestia's request to the Ministry of Finance, but at the time of publication no response had been received.
