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- Once there was such a bar: banks want to introduce a limit on transfers from teen cards
Once there was such a bar: banks want to introduce a limit on transfers from teen cards
Banks propose to set a mandatory limit on transactions on teenagers' cards. This initiative was made by the National Financial Market Council (Izvestia has the document). This is necessary so that the cards are not used by fraudsters to withdraw money. The threshold is proposed to be set more than loyal — at 200 thousand rubles per month, and it can be exceeded with the permission of the parents. The authorities are currently discussing a ban on opening accounts for people under the age of 18 without adult consent, but this initiative has too many disadvantages, according to participants in the financial market. Whether the new offer of banks will help in the fight against fraudsters and why such a mark was chosen — 200 thousand — in the Izvestia article.
Restrictions for teen cards
Banks should be given the opportunity to set a limit on transactions on accounts of persons from 14 to 18 years old, but apparently, customers will not notice it much: the proposed limit is 200 thousand rubles per month. It will be possible to exceed it only with the consent of the parents.
Thus, the National Council of the Financial Market (NSFR) proposes to amend the draft law, which will prohibit minors from opening bank accounts without the written consent of their parents — now only some players are doing this on their own initiative. The council sent amendments to the document, which was adopted in the first reading last week, to the Central Bank and the State Duma (Izvestia has it). The NSFR calls for more flexible regulation instead of strict restrictions.
Now the Civil Code gives teenagers the right to freely dispose of their earnings, said Andrei Emelin, Chairman of the NSFR. In addition, the complication of the client's path may deter many under the age of 18 from opening accounts, which will have a bad effect on the financial literacy of young people, Zenit Bank confirmed.
The NSFR noted that there is a risk of falsifying the consent of legal representatives of minors. To insure against this, banks will have to build mechanisms for verifying these documents, which will lead to additional costs for employee training and software updates.
— Any document verification is a whole process that requires configuration. For a mass business, it is always associated with automation and high implementation costs, not only material, but also temporary," explained Mikhail Voronko, Deputy Director of the Retail Business Development Department at Zenit Bank.
The digital format of interaction will help minimize the risk of falsification of statements and prevent the deterioration of the client's path, the VTB press service said. For example, you can allow parents to apply for consent in the bank's mobile app. In any case, it will take time for the market to develop a transparent and convenient mechanism.
That is why the NSFR also proposes to extend the time of entry into force of the draft law to 180 days after its adoption. In the current version, the document will work immediately, which will create difficulties for banks.
The authorities are already close to adopting the bill. Alexey Guznov, Deputy Chairman of the Central Bank, and Anatoly Aksakov, head of the State Duma Committee on Financial Markets, told Izvestia that the document is likely to be adopted during the spring session of parliament (it will last until August 3).
The Bank of Russia has received the NSFR's appeal and will consider it in due course, the regulator's press service told Izvestia.
How children are being dragged into fraud
The limit of 200 thousand rubles is more than enough for teenagers, but it is very small for dropper activities. Limiting the amount of transactions on such cards will make them unattractive to intruders.
Banks support the NSFR initiative. VTB clarified that young people rarely transfer large amounts, so fairly loyal limits should not affect their activity. But this will protect them from the actions of scammers and participation in dropper schemes — when young people's cards are used to withdraw stolen funds, cash out money or make transfers in favor of shady businesses or other illegal operations.
Criminals actively involve teenagers in droppery, German Zubarev, deputy Chairman of the Bank of Russia, told Izvestia. Young people are offered money for transferring cards to third parties. Attackers involve more and more people in such schemes through network marketing.
The "plastic" of minors is especially valuable for criminals, because transfers on them are less controlled, explained economist Andrei Barkhota. Banks do not question the origin of funds, because teenagers often do not have their own income, and they receive money from their parents. In addition, the cost of involving them in such schemes is usually lower — people under the age of 18 are willing to become droppers for much less money than adults.
The number of droppers among young people is increasing every year, said Alexey Dobrynin, managing partner of the Pen&Paper Bar Association. However, even minor violators can be brought not only to civil, but also to criminal responsibility.
If the money of a victim of criminals gets into the account of a young dropper, he or his parents will be obliged to return it to the victim, Alexey Dobrynin specified. From the age of 16, he can receive a real sentence for complicity in fraud or for money laundering.
Parental control will become one of the barriers to the use of minors in criminal schemes, but it will not help to completely solve the problem, Alexey Dobrynin emphasized. After all, it will be possible to involve young people with an already open account in a criminal scheme.
In this case, it is precisely the transfer limits that can create obstacles for fraudsters without harming law-abiding customers. The turnover of stolen money on dropper cards, which are used in schemes, can be either higher or lower than 200 thousand rubles, so the proposed measure will most effectively create real difficulties for intruders in combination with limiting the total number of cards per customer in one bank and already existing measures to control signs of illegal transactions, explained the chairman of the NSFR. Andrey Emelin.
In addition, it is possible to create special teen products, set reasonable limits and work on a system for informing parents about payments made by persons under the age of 18, Zenit Bank suggested.
The NSFR initiative is aimed at finding a balance between security and accessibility of financial services for teenagers, explained Vladimir Chernov, analyst at Freedom Finance Global. The limit of 200 thousand rubles for transactions will provide limited but sufficient freedom to use the account without the need to obtain written permission from parents. At the same time, the initiative will curb the activity of droppers.
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