Rossiya Bank, a Russian joint stock bank founded in 1990, recently informed customers that a new federal law makes existing electronic digital signatures null and void.
In a letter dated October 25, the bank asked clients to renew their contracts governing the exchange of electronic documents by contacting the branch where their account is held.
The bank will unilaterally terminate the contracts of customers who do not renew.
As of October 1, 2006, Rossiya Bank, headquartered in St. Petersburg, had assets of approximately $1 billion, making it the 44th biggest bank by assets in Russia.
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