Threats change, but security measures to protect account holders do not. Can banks still blame users in case of frauds? by Andrea Monti – Originally published in Italian by Infosec News
One of the many recent cases reported by the press in Italy accounts for the umpteenth fraud committed against a bank account holder exploiting a SIM hijacking attack. Not even a week ago, I had to deal with a similar case, where through a social engineering attack, the scammers mislead the customer into giving them by telephone the OTP to finalise the fraudulent transaction.
In many cases, the victim manages to obtain a refund of the stolen amount, but in others the bank refuses, claiming the client’s negligence for not recognising the fraudulent nature of the criminal behaviour. In other words and rough terms: the bank does not pay for the outcomes of the stupidity or ignorance of the victim.
However, is that so? Continue reading “SIM hijacking, security measures and bank’s liability”