Regulatory Alerts2015-05-20 | JB-2015-3426Resolution No. JB-2015-3426 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3426 to reject the review appeal filed by Banco de Guayaquil S.A. regarding a customer complaint about an unauthorized electronic transfer. The Board confirmed the administrative order requiring the bank to refund US$ 2,100.00 to customer Joffre Ruperto Paladines Rodríguez, ruling that the bank failed to implement adequate physical and technological security measures for virtual banking transactions. The decision emphasizes the bank's legal obligation to protect client funds and ensure service quality under Ecuadorian financial and consumer protection laws.
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