Confirmation follows: banks launch second hand services in advance
Banks are launching "second hand" services to protect against fraudsters - they allow to appoint a trusted person (for example, a relative) who can reject potentially risky transactions. Such a service was launched in T-Bank, Sber has a similar service, and Absolut is working out the possibility of its implementation. So far, market players are implementing these services on their own initiative, but in the future Russia plans to legislate such obligation - the amendments have already been adopted in the first reading. Izvestia investigated whether the "second hand" will help to reduce the volume of fraud in the country.
How to protect elderly relatives from fraudsters
Russian credit organizations are introducing a service that allows to protect relatives from fraud. In December, such a service appeared at T-Bank, reported "Izvestia" in its press service. It allows to appoint another client as a trusted person, who will be able to check and reject a number of operations - if there is a suspicion that they are made under the influence of malicious persons.
It is, for example, about transfers to unfamiliar details, loan applications or early closing of deposits. At the same time, the service will send to the trusted persons for additional verification only the operations falling under certain risk conditions - it is only about 2% of all client's actions, T-Bank specified. The trusted person will receive an SMS or push notification, and the transaction will have to be confirmed 24 hours in advance, otherwise it will be rejected.
The service will be especially relevant for older people, who are more vulnerable to social engineering methods of fraudsters, T-Bank believes. It will also help to protect teenagers who may become victims of fraud with pseudo-jobs or fall under the influence of fraudsters and become dropships - to issue a card for its further resale to attackers.
According to estimates of the credit organization, the service will prevent losses of more than 1.5 billion rubles annually.
A similar service without the right to reject the operation by a relative also works in "Sber" - it allows you to share information about expenses and income on the card with a loved one, recalled in Sberbank. They explained: when you connect the service on the smartphone of the selected person will come notifications of transactions on the card. This will help to react in time to suspicious write-offs from loved ones. In the near future, the service will be updated on a large scale, which will cover a wider range of customer needs, Sber added.
However, unlike T-Bank, in "Sber" it is a paid option - judging by the site of the credit organization, it costs 99 rubles for each person who will receive notification of the operation.
Absolut Bank told Izvestia that they are currently working out scenarios for launching the service, which allows the client to appoint a trusted person to confirm risky transactions. They are also analyzing the required improvements, and in the future the financial institution plans to launch the service.
How the service works to protect loved ones from fraudsters
To protect the older generation, the Bank of Russia several years ago gave banks recommendations to provide a service "second hand", recalled "Izvestia" in the Central Bank. They explained: it allows the elderly or people with disabilities to appoint an assistant - a trusted person from among the clients of the same bank. The assistant should be authorized to reject suspicious transfers, including through the SBP, as well as to receive information about the ward's attempts to withdraw large amounts of cash. And then he or she should help his or her ward deal with the situation.
- So far, unfortunately, very few credit organizations have responded to our recommendations and introduced the service of notification of transactions of elderly relatives. At the same time, they are often the victims of social engineering, following the instructions of fraudsters and not informing their relatives that they are helping some "bank security service" or participating in a "police operation". As a result, they lose money," the Bank of Russia said.
The regulator added: based on the recommendations of the Central Bank, a draft law on the introduction of the "second hand" service has now been developed and adopted in the first reading. In accordance with it, systemically important banks will be obliged to offer such a service to their clients. Now the question is being solved whether the option will be provided by power of attorney or through an additional agreement to the contract on banking services.
As "Izvestia" wrote earlier, the initiative is going to be adopted this year.
- Of course, the final decision always rests with the person himself, but, in the opinion of the Central Bank, he should at least have the opportunity to appoint an assistant who will protect him from rash or dangerous disposition of his money - emphasized the Central Bank.
VTB supports the legislative fixing of the mechanism, and Novikom is closely following the discussion and after the adoption of changes plan to implement them, reported "Izvestia" in these credit institutions.
The "second hand" principle is already in place in many banks for legal entities, when a transaction is confirmed by two employees of the company at once (for example, the CEO and accountant), said Daria Verestnikova, Commercial Director of SafeTech. For citizens, it is also relevant for protection against fraudsters. However, it is important that the option be convenient.
- The "second hand" principle for individuals can be realized with the help of a mobile electronic signature. For example, a bank client (say, a pensioner) forms a payment document in his mobile bank (say, creates an application for a loan) and confirms it. This document is then sent to a trusted person (the son or daughter of this pensioner) on a smartphone. The smartphone screen displays the payment with details. The trusted person checks who the money is going to, presses the "sign" button, and the transaction is signed with an electronic signature," Daria Verestnikova suggested.
Banks, being ahead of the legislation, strive to provide convenient services to their clients - this allows them to test services in practice, identify shortcomings and promptly eliminate them, said Maria Yakovleva, Director of the Yakovlev & Partners Law Group. For citizens, this means faster receipt of useful services.
