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.

Valeria Steblyuk is the Senior Lawyer of Commercial Bank “Garanti Bank - Moscow” (ZAO). In 2005 she graduated from National Research University – Higher School of Economics – one of the best universities in Russia. Valeria Steblyuk is a well-experienced in-house lawyer in banking sphere. During her professional life she worked at such leading and the largest banks in Russia as OJSC “Promsvyasbank” and Bank TRUST.

Commercial Bank “Garanti Bank - Moscow” (ZAO) was established in Moscow in 1995. CB “Garanti Bank - Moscow” (ZAO) is owned by Turkie Garanti Bankasi AS that is Turkey’s second largest private bank.