Regulatory Alerts2015-06-17 | JB-2015-3487Resolution No. JB-2015-3487 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3487 to reject the appeal filed by Banco Internacional S.A. regarding a consumer complaint about unauthorized credit card transactions. The Board confirmed the administrative order requiring the bank to refund USD 8,824.90 to the cardholder, Blanca Rebeca Caiza, for fraudulent charges made in Florida on March 8, 2013. The decision was based on the bank's failure to monitor risk alerts and block the card despite internal policies mandating such actions when suspicious activity is detected.
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