Online Banking in Russia: Legal Aspects
Valeria Steblyuk, Senior Lawyer, Commercial Bank “Garanti Bank - Moscow” (ZAO), Russia
Bank business in Russia is increasingly developing. Banks in Russia provide a wide range of services to their customers and constantly launch new banking products and services. Online banking is one of the most advanced services, not only leading banks provide online banking services, the smallest banks in Russia attempt to launch this kind of service. Until a few years ago the legislation that regulates online banking was not so developed. Online banking was subject to the general norms of the Civil Code of the Russian Federation, the Federal Law №1-FZ of January 10, 2002 “On electronic digital signature”, the Federal Law №149-FZ of July 27, 2006 “On information, informational technologies and the protection of information” and some normative legal acts.
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