MOSCOW, August 26. /TASS/. Limiting the number of bank cards per holder to 10 may will toughen competition between banks and lead to an increase in costs, Boris Kopeikin, chief economist at the Pyotr Stolypin Institute of Growth Economics, told TASS.

Earlier, the secretariat of Deputy Prime Minister Dmitry Grigorenko reported that the government had prepared the second package of measures against cyber fraud, which contains an amendment to limit the issuance of the number of bank cards per person to 10. The authorities are introducing this measure as part of the fight against droppers – individuals who help fraudsters hide and cash out stolen money through their bank cards.

"For banks, the innovation may lead to increased competition and higher costs. After all, it will now be necessary [for banks] not only to persuade them [clients] to open a new card, but also to close one of the existing ones," Kopeikin said.

According to the expert, the possession of a large number of cards does not mean that illegal actions are being carried out.

"It is possible to use bank services without cards, but it is inconvenient. The proposed restrictions will obviously affect demanding customers who choose the best conditions, such as cashback, interest rates on loans or deposits, and in a number of marketplaces, captive bank cards allow you to receive significant discounts," Kopeikin believes.

In his opinion, the amendment to limit the number of bank cards per person to 10 leaves a number of questions.

"It is impossible to apply for a card without providing passport data, regardless of whether you have one card or 100. In case of abuse, the task of identifying the owner seems quite simple for law enforcement. Therefore, for example, traffic violations are fought with fines and deprivation of rights, but not with restrictions on the purchase and ownership of cars," the expert said.

He noted that citizens with large savings have every right to rely on the insurance system and distribute funds among a large number of banks within the insurance limit of 1.4 million rubles ($17,385). "The amount of 14 million rubles ($173,855) is large, but by no means excessive. It is unclear why the rights of such clients should be limited," Kopeikin concluded.