Translated material
The State Duma approved the introduction of a cooling period for loans to protect against fraudsters
The document was adopted in the first reading on January 15.
According to the bill, when issuing loans, financial organizations will not transfer money to the borrower immediately. For amounts from 50 to 200 thousand, the cooling period will be at least four hours, for amounts over 200 thousand - 48 hours.
During this time, the borrower will be able to refuse to receive a loan, assessing its need and his solvency. Including if he contacted the bank under pressure from fraudsters.
The bill also introduces a number of obligations for credit and microfinance organizations to carry out additional checks for fraud during operations and transactions, added State Duma Speaker Vyacheslav Volodin.
From March 1, 2025, Russians will also be able to self-prohibit receiving loans.
According to the Central Bank, in July-September 2024, scammers stole 9.3 billion rubles from Russians. Just over 40% of the amount came from online banking and transfers, although previously the most significant losses were on card transactions.