EU court says banks must first refund victims of account fraud

The European Court of Justice ruled that banks must first refund unauthorized payments taken through account fraud.

The ruling concerns customers across the EU and follows a case brought by a woman in Poland who lost about 700 euros after entering her bank details on a fake website.

Customers must notify their bank in time to qualify for an immediate refund under the ruling.

A bank cannot refuse the initial refund just because it believes the customer was grossly negligent.

Banks can seek the money back later if they can prove the customer made a serious mistake.

The court said the rule is intended to ensure a high level of consumer protection.

Victims should report fraud and block access quickly, then keep emails, screenshots and other evidence, according to legal advice in the coverage.