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2008, San José, Costa
Rica
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BCR Ordered To
Recompense Victim Of Online Fraud
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BCR Ordered To
Recompense Victim Of
Online Fraud
The Tribunal Contencioso
Administrativo y Civil
de Hacienda has ordered
the Banco de Costa Rica
(BCR) to make
restitution to a
customer who was twice
victim of internet
banking fraud.
BCR officials said that
this is the first time a
bank, who has denied
liability, is ordered to
make restitution to its
customers who had money
disappear from their
account due to
electronic transfers.
The BCR is still facing
charges of four other
customers that will be
decided this week, in
addition to charges
filed by a group
representing 120
customers.
In total, 290 BCR
customers have filed
complaints of being
victims of fraud.
The court decision made
it clear that the BCR
online security failed,
saying that the system
was stricter once inside
than getting into.
The bank had come under
close scrutiny by
banking authorities and
including a report by US
financial institutions
in 2005 who told the BCR
that its "banca en línea"
(online banking system)
was not sufficiently
secure and as such
accounts have come under
attack by online fraud
artists.
The bank only brought in
its more secure online
banking policy of "Clave
Dinámica" at the end of
2007, but then only on a
voluntary basis. Last
week, the BCR instituted
the policy that all
online transfers and
payments must be made
using the Clave Dinámica.
However, as of
yesterday, payments of
utilities and other
services could be made
online without the need
of the Clave Dinámica,
although the bank had
set a September 17
deadline when all
transactions had to
require the Clave
Dinámica.
Judges Roberto Gutiérrez
Freer, Ana Isabel Vargas
Vargas and Joaquín
Villalobos Soto ordered
the BCR to pay back its
customer the sums of
us$4.379 and ¢1.4
million colones, plus
interest and court
costs.
Banks have continually
denied liability for
losses resulting from
online fraud. However,
the judges were clear
that the BCR could not
prove that access to its
online banking was
sufficiently secure to
protect its customers
and neither could prove
that the customer, in
this case, was careless
in the handling of her
login and password.
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