Regulatory Alerts2015-06-17 | JB-2015-3485Resolution No. JB-2015-3485 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3485 to reject the review appeal filed by Banco de Guayaquil S.A. regarding a customer complaint about unauthorized ATM withdrawals. The Board confirmed the previous administrative order requiring the bank to reimburse the customer, Mr. Richard Edison Marshall Díaz, US$162.00 for transactions processed on December 13 and 14, 2013. The decision was based on the bank's failure to monitor funds adequately, provide necessary security measures, and prove that the customer was responsible for the disputed transactions.
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