President Volodymyr Zelensky has signed a law that introduces criminal liability for illegal operations with bank cards and accounts, according to the explanatory card for draft law No. 16013 on the Verkhovna Rada website. The law provides for penalties in the form of fines and imprisonment, and participation in so‑called drop schemes is punishable by up to six years’ imprisonment.
Which operations are subject to criminal liability
The law expands the list of unlawful actions involving payment instruments, including the forging of payment cards, payment instructions and other means of access to bank accounts. The list also includes the purchase, storage, transportation and sale of forged payment documents for the purpose of their subsequent use.
Criminal liability is also provided for carrying out payment transactions on the basis of forged documents, unlawful issuance or use of electronic money. Such offences are punishable by a fine of 3 to 7 thousand non‑taxable minimum incomes of citizens or restriction or deprivation of liberty for a term of two to four years.
Separate liability is established for the unlawful appropriation of bank cards, payment instruments and account access data, as well as for unauthorised access to bank and payment accounts and e‑wallets. These actions carry a fine of 4 to 8 thousand non‑taxable minimum incomes of citizens or restriction or deprivation of liberty for a term of three to five years.
If the offence is committed repeatedly or by a group of persons by prior conspiracy, the penalty will be four to six years’ imprisonment or a fine of 5 to 10 thousand non‑taxable minimum incomes of citizens.
What participants in drop schemes face
The law introduces liability for the transfer, receipt, acquisition and storage of payment cards, account credentials or access to bank accounts where this is done for the purpose of fraud or to commit another criminal offence. Liability applies not only to organisers of fraudulent schemes but also to those who provide their financial infrastructure, in particular those who recruit nominal account holders or transfer payment instruments.
The law also provides for the possibility of applying criminal law measures to legal entities if the relevant crimes are committed by their authorised representatives on behalf of and in the interests of the companies. The document is aimed at implementing European Union (EU) Directive 2019/713 on combating fraud and counterfeiting of non‑cash payment instruments.
The explanatory card for the draft law on the Verkhovna Rada website does not specify the date the document will enter into force.
