Still no final clarification on victim´s liability in banking phishing attacks

Banking & Finance

Mag. Stephan Schmalzl, ILO Newsletter vom 19. August 2016

The Supreme Court recently dismissed a victim´s claim to refund an unauthorised payment transaction against his bank and held that, among other things, a bank may offset its obligation to refund an unauthorised transaction with its claim for damages against the account holder.

However, the court failed to provide long-awaited guidance on the criteria to be applied when assessing the various degrees of fault that potentially limit the liability of payment service users.