EU Court Rules Banks Must Temporarily Refund Fraud Victims
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Insights by Echo AI
The European Court of Justice has ruled that banks must initially refund victims of account fraud, even if they are accused of negligence. This applies to cases where customers lose money after entering their account details on fake websites. The ruling came after a woman lost around €700 in such an incident. While banks can later reclaim the money, they must first refund the victim.
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