The Central Bank will propose to limit the length of stay in the database of fraudulent details

The Central Bank (CB) of the Russian Federation will send to the State Duma a proposal to limit its presence in the database "On cases and attempts to make money transfers without the voluntary consent of the client" to one year. This was announced on February 18 by the head of the regulator, Elvira Nabiullina.

"Now the law does not limit or regulate the length of stay in our database in cases of attempted fraud, in fact, assuming an indefinite period. And we will propose to the State Duma <...> limit these terms to one year, given that staying in the database itself has negative consequences," she said at the Ural Forum on Cybersecurity in Finance.

According to Nabiullina, the indefinite application of this measure is unfair, especially for teenagers and those who got into the database unknowingly. The head of the Central Bank also admitted that for citizens who re-enter the database, the data retention period may be extended.

"Perhaps those who enter this base for the second or third time should stay longer. This can be discussed — for how long. But it's probably unfair to apply this measure indefinitely," she concluded.

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On the same day, Nabiullina said that Russian banks suspend about 330,000 suspicious transactions every month. She noted that criminals regularly adapt to new cyber defense measures. According to her, the phone remains the main channel of fraudulent attacks.

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