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EU court forces banks to refund scam victims immediately

Original: tribunal de justicia

The Court of Justice of the European Union has ruled that banks must refund money lost to fraud 'immediately', even when the customer was negligent. Spanish media report the decision changes the rules on cyber fraud: victims get their money back first, and liability is argued out afterwards. The ruling is being read as a major shift in consumer protection across EU banking.

Why now: A fresh EU court ruling directly affects millions of banking customers' rights to refunds after fraud.

Court of Justice of the European UnionEuropean banks

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