Regulatory Alerts2015-06-04 | JB-2015-3456Banking Board Resolution JB-2015-3456
The Banking Board of Ecuador issued Resolution JB-2015-3456 to reject the appeal filed by Banco Nacional de Fomento regarding a consumer complaint about unauthorized ATM withdrawals. The Board ratified the previous administrative decision ordering the bank to reimburse the customer US$ 2,481.70 for fraudulent transactions that occurred outside her normal geographic pattern without triggering security alerts. The ruling affirmed the bank's operational responsibility for security failures and its obligation to protect deposited funds under Ecuadorian financial regulations.
Share