Organizations: Let Banks Pay Fraud

Organizations Let Banks Pay Fraud



full screen Banks can stop fraud with simple means, organizations write on DN Debatt. Archive image. Photo: Oscar Olsson/TT

The financial pressure on the banks to stop the fraud needs to increase, representatives of a number of Swedish consumer, pensioner, home owner and small business organizations write on DN Debatt.

The frauds linked to organized crime are a systemic threat, they believe. The risk of getting caught is low, while the consequences for the victims are great.

The legislation puts the responsibility on the customer, even though the banks can make it harder for fraudsters through simple measures.

“We therefore propose that the government copy the British system and take the initiative to change the Payment Services Act so that the responsibility for security deficiencies is placed on the banks,” the organizations write in the debate article.

The regulation that is about to be introduced in the UK means that the customer’s bank normally has to reimburse half the sum for the fraud, while the bank to which the fraudster moves the money has to pay the other half.