Odesa Finance and Taxes, Odesa Legal issues

28/ 11/ 2018

The statistics of recent years shows that the number and amount of non-cash transactions in Ukraine are continuously increasing. Ukrainians began to use cards instead of cash more often. However, fraudsters have already reached such professional level that almost any bank account can be easily devastated. It is enough to use a card at an ATM, store or even cafe that have been chosen by the thieves. To know the existing fraud schemes and the best ways of protection from them, the EBA Odesa Financial and Legal Committees’ joint meeting was held on November 28. Vadym Dumanchuk the PR-manager of the Bank “Pivdenny” became the event speaker.

In his speech, Mr. Dumanchuk highlighted some of the most popular methods of financial fraud. For example, skimming uses the copying of magnetic stripe data to make a clone-card and further withdraw from its funds. “Wishing” is the type-phone fraud when bank’s customers are asked the confidential information. Phishing is another activity of criminals whose purpose is creating duplicate sites of organizations and under various reasons oblige their payment card holders to provide confidential information for the criminal needs.

Oleksandr Melnyk, Chairman of the EBA Odesa Legal Committee and Head of GOLaw Odesa office, drew attention of guests to the peculiarities of relations between clients and banks, referring to the court practice analyzed by him. So, for example, in case when a client notices any operations with his account that he hasn’t carried out and he does not inform his bank about it – this is a violation of an agreement and cancels liability and obligation of bank in compensation.

Summing up the meeting, the participants received recommendations for assurance of safety during cashless financial transactions, namely: full and professional protection of technical devices which get access to online banking, social networks or e-mail; installing hard passwords; warning with sudden winning lotteries, too attractive offers; regular checking of bank statements for suspicious activity; and, of course, the maximum confidentiality of your personal data.

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