COMPENSATION OF DAMAGE CAUSED BY FRAUDULENT USE OF PAYMENT CARDS, ACCORDING TO ARTICLE 159.3 OF THE CRIMINAL CODE OF THE RUSSIAN FEDERATION

Abstract

This article is dealt with the peculiarities of compensation of damage caused by fraudulent use of payment cards. The questions of interaction of clients with banks and other payment agents in connection with compensation of damage caused by scammers have been considered. Positive points and legal shortcomings in this area of legal regulation have been analyzed. The issues, which arise both in theory and in practice within Article 9 of the Federal Law No. 161-FZ dated June 27th, 2011"On the National Payment System", have been considered in depth. The abovementioned Article has in fact established the presumption of innocence of payment cardholders when fraud has occurred. The possibilities of notifying bank clients of the transactions performed on the cards have been considered, the shortcomings and gaps in the regulation of this issue have been revealed. The analysis of the problem of the effectiveness of measures taken to control the risk of fraud in the system of clearing settlements has been made, the contents of instructions on the measures for the safe use of bank cards have been disclosed.