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3 clusters · 40 sources · 8 days · First seen · Last updated

CJEU ruling on bank liability for phishing fraud

Overview

The Court of Justice of the European Union (CJEU) issued a landmark ruling regarding the liability of financial institutions in cases of unauthorized transactions, such as phishing scams. The court determined that banks must immediately reimburse victims of fraud, even if the bank suspects the customer acted with gross negligence. Under the ruling, reimbursement must be completed no later than the end of the next business day following the report of the fraud.

The court clarified that a bank cannot use a customer’s alleged carelessness as a reason to withhold funds initially. Instead, the bank must first return the money and can only seek to recover it later if it can prove the customer acted with intent or gross negligence. The burden of proof regarding a client’s negligence lies entirely with the financial institution. The only exception allowing a bank to delay reimbursement is if it possesses credible evidence that the client was a complicit participant in the fraud.

In the specific case C-70/25, known as ‘Tukowiecka’, the CJEU reinforced these consumer protections. The case originated in Poland involving a PKO BP customer who lost approximately 700 euros after clicking a phishing link. This decision arrives as fraud levels rise within the European Economic Area, with banking fraud reaching 4.2 billion euros in 2024. In Spain, where consumers have historically borne approximately 80 percent of losses from transfer fraud, experts suggest banks could face potential costs approaching one billion euros when considering claims from the last five years.

Entities

Court of Justice of the European Union · Poland · European Union · Tukowiecka · Bank of Spain

Claims

What the coverage asserts, and how many sources carry each claim.

Coverage disagrees

Sources make claims that cannot both be true. CLSTR reports the disagreement; it does not decide who is right.

  • "The upcoming Payment Services Regulation (PSR) will grant banks a 15-day window to evaluate refund requests."

    vs

    "The reimbursement must be completed by the end of the next business day following the report of the fraud."

    One claim asserts reimbursement must be completed by the next business day, while the other asserts a 15-day window for evaluation.

Timeline

  1. [BUSINESS] 7 sources
    Court of Justice of the EU rules banks must reimburse fraud victims

    The EU Court of Justice ruled that banks must reimburse fraud victims, even if the customers were negligent, potentially exposing financial institutions to massive costs.

  2. [INTERNATIONAL] 17 sources
    Court of Justice of the EU mandates immediate bank refunds for phishing victims

    The CJEU ruled that EU banks must immediately refund victims of phishing and unauthorized transactions, even in cases of gross negligence, before attempting to recover funds through legal action.

  3. [BUSINESS] 17 sources
    European Court of Justice mandates immediate bank refunds for phishing victims

    The European Court of Justice ruled that banks must immediately reimburse phishing victims, even if gross negligence is suspected, shifting the burden of proof to the financial institutions.

Sources

324.cat · avoise.mairie72.fr · berliner-zeitung.de · bild.de · biznis.ba · biznisinfo.mk · capital.fr · corrierenazionale.net · diariandorra.ad · diariosigloxxi.com · donald.pl · eldiariotorrelavega.es · elnacional.cat · etv.me · fr.businessam.be · futurezone.de · generation-nt.com · haerlein.de · ilcampanile.it · jornaleconomico.sapo.pt · lawblog.de · merca2.es · migogaarhus.dk · mittelstandcafe.de · moncloa.com · nasza-holandia.pl · neue-pressemitteilungen.de · pdaphone.ch · pitas.com · politika.rs · portalanalitika.me · prnews.pl · que.es · roadtvitalia.it · sapo.pt · southwesttrains.co.uk · trend.dk · upday.com · world-today-journal.com · wortfilter.de

This summary has been updated 5 times: see revision history