Bank Users Can Take Up To 100 Days To Know That They Were Victims Of Fraud

During 2017, 8.7 million claims with a monetary impact on the Bank were recorded

This great amount of claims can be analyzed within two types of problems: the first, those derived from possible fraud such as unrecognized consumption, cyber fraud or identity theft, which are linked to prevention and security measures that are implemented when carrying out banking operations; and the second, which are called Operational Transactions of the Bank, which respond to a more direct responsibility of the Institution, such as badly applied direct debits, failing to deliver the requested amount in ATMs, unrecognized collection of commissions or interests, among others. In both situations, the time it takes the user to notice these issues is 27 calendar days on average.

However, it is worthy of notice that in the case of claims of identity theft or unrecognized products, the user takes more than 100 days to notice, since they usually react when they begin the collection work for a credit that they did not hire, as consumers generally don’t have the habit of regularly consulting their Credit Bureau.

In regards of the claims for unrecognized consumption – which represent...... Continue reading article here

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