Six leading banks are subject to audit by the Competition and Consumer Protection Bureau.  It's about customer complaints

As shown, According to the regulations, banks must return the funds by the end of the next business day after receiving the notification. The Competition and Consumer Protection Bureau's activities already concern 15 banks. The penalty for violating collective consumer interests may reach 10%. rotation.

The Competition and Consumer Protection Bureau has initiated proceedings against six banks

“The allegations relate to banks' responses when consumers report unauthorized transactions. Most often, these occur as a result of cyberattacks, for example, fraudsters extorting electronic and mobile banking passwords, transfer authorization codes, and card data.”

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By law, banks are obliged to return the amount of an unauthorized transaction or return the account to the state before this transaction occurred – by the end of the next business day after reporting. There are two exceptions: the consumer report was filed more than 13 months after the transaction or there was reasonable suspicion of fraud on the part of the consumer, which the bank reported to the police or prosecutor's office – added.

– Banks do not always fulfill their obligation to return money to affected consumers. They reject or return it after the deadline. Misinformation provided in response to complaints is also a problem. “We have brought further charges against banks that do not settle accounts with consumers when they report an unauthorized and misleading transaction,” Tomas Krestny, head of the Competition and Consumer Protection Office, said in the press release.

In the last six actions, the office questioned the failure to recover funds within D+ 1, that is, by the end of the next business day after the unauthorized transaction was reported.. Under the Payment Services Act, the bank must return the stolen amount to the consumer within D+1. However, if it is found that the consumer, through gross negligence, contributed to the carrying out of an unauthorized transaction, it may ask the consumer to return the funds previously returned by the bank.

Our analysis shows that banks do not return stolen funds at all or do not do so on time (Handloy Bank, Okroni Srodowska Bank, Pikau SA, Plus Bank). Two of them (Alior Bank, PKO BP) introduced a so-called “conditional refund” – they return the money while the complaint is being considered, and if, after analyzing the case, they decide that the consumer is responsible, they automatically deduct the previously refunded amount from the consumer’s account,” the office said. Competition and Consumer Protection said in a statement.

Furthermore, in response to consumer complaints, PKO BP responds in such a way that the consumer may not realize why the bank has refused to consider his or her complaint. It also does not provide evidence to prove that the customer is at fault – as noted.

The office also alleges misleading responses to reports of money theft. “Banks reject customer complaints about unauthorized transactions, explaining that the system provided the necessary data to complete the transfer, that is, the transaction – in their opinion – was properly documented. However, they do not take into account that the transaction could be carried out by “another person without Consumer consent and knowledge. As a result, many people may give up demanding their rights.”

The office also asks about imposing a limit on potential complaints and shortening the time needed to report them. AndIn addition, Lior Bank and Plus Bank may be misleading by limiting the number of complaints a consumer can file (maximum of 15 complaints) and shortening the time for filing claims to 120 days from the occurrence of the event.. The law does not limit the number of complaints, and the maximum period for filing claims is 13 months.

– The bank's obligation does not end with proving the authenticity of documentation when conducting transactions. It is important for financial institutions to provide security measures that will limit the activities of fraudsters. The transaction is only permitted if it is authenticated with the knowledge and consent of the consumer. The head of the Competition and Consumer Protection Bureau said: “We hope that the sector will adapt its activities to the law that has been in force for years – for the benefit of consumers.”

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