EU legal eagle says banks should refund cybercrime victims first, argue later
Summary
An Advocate General for the European Union has proposed that banks should refund cybercrime victims first and argue about liability later. This recommendation, stemming from an interpretation of PSD2 regulations, aims to provide faster financial protection to individuals affected by scams.
IFF Assessment
This is good news for defenders as it proposes a more victim-centric approach to financial recovery after cybercrime, potentially reducing the burden and stress on individuals.
Defender Context
This development highlights a potential shift in regulatory expectations regarding bank liability and customer reimbursement in cases of cybercrime. Defenders should be aware of these evolving legal frameworks as they can influence incident response priorities and communication strategies with affected customers.