European Court: Banks Must Immediately Compensate Phishing Victims, Even when the Customer Has Been Negligent.
56 Articles
56 Articles
A judgment of the European Court of Justice (EUJ) states that negligence on the part of customers does not exempt payment service providers from the obligation to return to them "immediately" the amount of money lost in a scam. At the latest, at the end of the business day following which the loss has been communicated to the entity. However, later, the bank may seek to claim a refund of the losses resulting from the scam to the customer. But it…
The ruling of the Court of Justice of the European Union does not mean that the bank is liable for compensation.
If payments have been made from your account without your permission following a phishing attack, your bank must refund that money immediately. This applies even if the bank considers that you have been grossly negligent. The European Court of Justice ruled this on Thursday, October 15, according to the Court's press release. The ba...
This is reflected in the judgment of the European Court of Justice. "It's a bomb for banks," Lennsens believes. ...
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