Banks are stricter in their general terms than the law regarding refunds for phishing

Banks often impose stricter conditions than the law regarding the reimbursement of phishing victims, leading to inadequate protection for customers. An investigation by the Commission on Unfair Contract Terms revealed that the six largest banks in Belgium have terms that exceed legal requirements. Minister of Consumer Protection Rob Beenders urges banks to comply with the law, emphasizing that general terms should not limit consumer rights. The European Court of Justice recently ruled that banks must refund unauthorized payments promptly, with exceptions for suspected fraud. However, some banks interpret 'gross negligence' broadly, potentially denying refunds. Beenders plans to address these issues with the banking sector to ensure clear consumer rights.