Banks will now give compensation to victims of electronic fraud, according to a bill of the Ministry of Development that is under consultation – What is phishing
Compensation to victims of online fraud banks will now give, according to a bill of the Ministry of Development that is under consultation. At the same time, citizens who lose their money due to the theft of their passwords will get it back, even if the theft is due to their own negligence. However, it will concern amounts over 1,000 euros.
In particular, new legislation provides a solution to two important consumer problems, which is expected to come into effect next month as reported by ERT. One of these problems concerns the case where someone loses or steals the debit card with which they make their daily purchases. Until he declares the loss or theft, a short period of time may pass, but enough for the person who finds the card to proceed with purchases. In this case the cardholder is responsible for the first 50 euros. That is, if the person who finds the card purchases 200-300 euros, the difference from 50 to 200 is covered by the bank and returned to him.
When it comes to online scams, anyone who is a victim of phishing will now be able to get compensation. The new legislation provides that up to 1,000 euros the e-banking owner is responsible. That is, the citizen is responsible. But if a transfer is made, a monetary transfer over 1,000 euros, the bank covers the difference. It is a very important initiative since online transactions are now part of our daily lives.
Besides, the procedures for the operation of online stores are being tightened. On their website, they should indicate the VAT number, the Commercial Register number and the number of the license to practice a profession. If any of these are missing, the fine starts at 5,000 and reaches up to one and a half million euros. And of course the State has the right to download even the website.
What is Phishing?
Phishing is an act of deceiving internet users, in which the ‘offender’ impersonates a trustworthy entity, abusing the lack of protection provided by electronic tools, and the ignorance of the user-‘victim’, in order to unlawfully obtain personal data, such as sensitive private information and passwords.
If it were possible to render the term in Greek, we could well call it ‘Electronic Fishing’, and that’s because the English term is not far from it. The term phishing, first used by the hacker Khan C Smith and subsequently adopted by the entire hacker community, comes from the English ‘fishing’, as the process by which the attacker presented as a trusted entity in order to attract users, it reminds the process of fishing bait.
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