Phishing and Banking Fraud: When the Bank is Liable

Discovering an unauthorized charge on your current account is a frustrating and alarming experience. Whether it's a transaction carried out through phishing, SIM swap, or other cyber fraud techniques, the feeling of helplessness can be profound. However, it is crucial to know that the law offers concrete protective tools. Often, the credit institution is obliged to refund the sums misappropriated, unless it can prove gross negligence on the part of the customer. As an experienced lawyer specializing in damages compensation in Milan, Avv. Marco Bianucci assists clients of the firm in navigating this complex matter and asserting their rights.

The Regulatory Framework: Liability of Credit Institutions

European and Italian legislation, particularly Legislative Decree no. 11/2010 implementing the Payment Services Directive (PSD2), establishes clear principles for consumer protection. The law requires banks to adopt adequate security systems and Strong Customer Authentication (SCA) measures to prevent fraudulent transactions. Consequently, in the event of an unauthorized transaction, liability primarily falls on the bank. It is the credit institution that must prove that the transaction was authenticated, correctly recorded, and not affected by technical anomalies. The customer is only liable for losses if they acted with intent or gross negligence, a condition that is not met by simply falling for a well-orchestrated cyber trap.

The Approach of the Bianucci Law Firm

Obtaining a refund is not always a straightforward process. Banks may attempt to reject claims, attributing full responsibility to the customer. The approach of Avv. Marco Bianucci, a lawyer specializing in damages compensation in Milan, focuses on a precise and personalized strategy. The first step involves a detailed analysis of the case to reconstruct the dynamics of the fraud and assess the flaws in the bank's security system. Subsequently, a formal and detailed complaint is sent to the credit institution. In case of a negative or unsatisfactory response, the firm assists the client in appealing to the Arbitro Bancario Finanziario (ABF), an out-of-court dispute resolution body, or, if necessary, in initiating civil legal action to obtain fair compensation.

Frequently Asked Questions

What should I do immediately after discovering banking fraud?

It is crucial to act with the utmost speed. The first action to take is to immediately contact your bank to block the card, current account, or payment instruments involved. Immediately after, it is necessary to file a criminal complaint with the competent authorities, such as the Postal Police or the Carabinieri. Finally, a formal complaint must be sent to the credit institution, preferably via Certified Email (PEC) or registered mail with return receipt, attaching a copy of the complaint.

I provided my data, is it still the bank's fault?

Even if you were tricked into providing your credentials, gross negligence is not automatically established. Case law, including that of the Arbitro Bancario Finanziario, tends to recognize the bank's liability if it has not adopted all appropriate security measures to prevent and intercept abnormal or suspicious transactions. The sophistication of the scam is a key element: the more credible the deception, the less likely it is that the customer can be attributed with gross negligence.

How long do I have to request a refund for phishing?

The law stipulates that the customer must report the unauthorized transaction to the bank 'without undue delay' from the moment they become aware of it and in any case within 13 months from the date of the charge. It is always advisable to act as soon as possible to avoid prejudicing the chances of success. For actual legal action, however, the ordinary statute of limitations applies.

The bank rejected my claim, what can I do?

If the bank rejects the claim or does not respond within the prescribed deadlines, all is not lost. The next step is usually to appeal to the Arbitro Bancario Finanziario (ABF), a faster and less expensive procedure than court litigation. Alternatively, or if the ABF's decision is not satisfactory, it is possible to initiate ordinary legal proceedings. At this stage, legal assistance is essential to correctly set up the defense strategy.

Request a Case Assessment in Milan

Suffering cyber fraud can jeopardize your financial stability and trust in the banking system. Facing a credit institution alone can be complex and discouraging. Therefore, relying on a professional with specific expertise in the matter is the most effective choice to protect your rights. If you have suffered a financial loss due to phishing or other online scams, contact the Bianucci Law Firm for an in-depth assessment of your case. Avv. Marco Bianucci, based in Milan at via Alberto da Giussano 26, will provide the necessary assistance to initiate the process of requesting a refund and compensation for damages.