Members of the parliamentary finance committee agreed on the need to improve protection against cybercrime following a number of cases in recent months.
Should people be able to reverse a suspicious transfer 24/7? Should digital certificates like Luxtrust be given higher levels of security? Should victims of fraud get their money back?
All these questions will be dealt with the Chamber's finance committee in due course, following a decision to tackle cybercrime in the Chamber on Wednesday afternoon.
The politicians expressed sympathy for the victims of the BIL scam website this summer, but said that any assistance for the victims was now in the hands of the judiciary.
However, the government and members of parliament want to revise and improve protection against cybercrime in order to better protect victims.
Helpline, Luxtrust, police and justice
The Grand Ducal police, banks, and RTL often advise people to report any issues to the helpline 491010, which is available 24/7 and can help people to lock down their bank accounts, cards or Luxtrust certificates. However, LSAP MP Ben Polidori pointed out: "There is no service to support people in case of a problem." He encouraged the expansion of the helpline service in this regard.
His former party colleague, Marc Goergen of the Pirates, recommended more security measures for Luxtrust. In addition to using face ID, some foreign banks also ask customers to send selfies for larger transfers to increase security.
Finance minister Gilles Roth agreed and said these ideas should be explored by the committee. He also agreed with David Wagner of the Left, who said immunity encouraged criminals and that cybercrime should not be a petty offence.
The police and judiciary teams, including the Financial Intelligence Unit (CRF), should have the means to be able to "quickly" uncover such cases with the "necessary expertise".
Compensation for victims
To prevent people from falling victim to increasingly sophisticated cyber scams, Goergen proposed a guarantee fund that would cover people up to €100,000 (as is the case for deposits in the event of bank failures). The finance minister said the third PSD or Payment Systems Directive, which is still being negotiated at EU level, would provide for reimbursement unless the victim was truly negligent.
ADR parliamentary group leader Fred Keup pointed out that if money is stolen from a person's home during a burglary, they won't get it back.
All parties agreed that everything is accelerated with digitalisation, both with advantages and disadvantages. It increases the risk of duping victims with artificial intelligence deemed a potential threat in the future. The committee proposed raising awareness, giving authorities more resources, ensuring more cooperation across organisations and borders, more responsibility for telecommunications operators and more secure mechanisms for banks. This is not only to protect people but also the reputation of Luxembourg's financial centre.
