Belgian banks introduce security measures to combat rising phishing

Banks in Belgium are implementing new security measures, such as the ‘locked account’ feature, to combat a significant increase in phishing and cybercrime. Belfius has officially introduced an option where customers can deposit money online but must visit a physical branch to withdraw it. This measure aims to create a barrier against fraudsters who use aggressive tactics to force immediate transfers. Other institutions, including KBC and BNP Paribas Fortis, offer similar services where outgoing transfers can be blocked unless the customer contacts customer service or visits a branch.

Recent reports indicate that damages from phishing have nearly doubled, with criminals stealing approximately 93 million euros last year. This surge has resulted in an average of forty new judicial investigations into phishing every day.

In addition to these technical measures, banks face new legal obligations. A recent ruling by the European Court of Justice requires banks to reimburse victims of phishing within 24 hours, clarifying that banks can no longer avoid responsibility by simply claiming certain circumstances.