“There’s a sum of money missing from your payment account that you haven’t transferred or released for payment. What do you have to bear in mind? When is the bank liable, and when is the account holder?“ All these questions and more are answered in the current edition of the FMA’s consumer information series “Let’s talk about money“ on “Ouch! Where is my money?” The FMA informs is a consumer-friendly and easy to understand manner about what needs to be done if a transaction occurs that the account holder did not make or release for payment. The key message: If the account holder claim that they have not authorised or approved a certain payment, the bank must prove that the payment was conducted in a secure and orderly manner. The bank must prove that the payment was correctly authenticated, correctly recorded and booked, and that it was not impeded by technical problems. This FMA consumer protection information also weighs up whether the bank or the account holder is required to bear the costs in such cases. This will depend on whether strong customer authentication was necessary (e.g. using a PIN or a fingerprint), or whether and to what extent the customer acted negligently.
Useful tips about how consumers can protect themselves
The FMA’s information series also contains useful tips about how consumers can protect themselves against such fraud:
- Handle personal details with care, and never divulge account details, passwords or PINs!
- Under no circumstances should you ever give third parties access to your private devices e.g. via AnyDesk or TeamViewer.
- Contact your bank without delay if anything is unclear.
- Remain critical!
The latest edition of “Let’s talk about money” entitled “Ouch! Where is my money?” can be downloaded (in German only) or read on the FMA’s website at: Ouch! Where is my money?
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-6006, or +43/(0)676/88 249 516