Regulatory Alerts2015-05-13 | JB-2015-3411Banking Board Resolution JB-2015-3411
The Banking Board of Ecuador issued Resolution JB-2015-3411 to reject the appeal filed by Banco de Guayaquil S.A. regarding a consumer complaint about unauthorized electronic transfers. The Board confirmed the lower authority's decision ordering the bank to refund USD 180.00 to the claimant, José Guillermo Macías Morán, due to the institution's failure to implement adequate security measures for electronic transactions. The ruling establishes that the bank remains liable for the loss because it could not prove the customer compromised their access credentials or coordinate card.
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