There are various types of internet scams, and whether you receive reimbursement as a victim depends on several factors. First, the bank needs to understand the circumstances before determining responsibility, explains Lars Weber, a cybersecurity expert at Spuerkeess. According to Weber, there is no one-size-fits-all solution. Each case requires analysis to determine responsibility, particularly when clients are scammed in sophisticated ways. The types of damage covered depend on the insurance policy.
The main issue is that most scams exploit the weakest link in security, often the human factor, Weber emphasises. This means victims often bear some responsibility. Weber compares this to traffic accidents: in some cases, responsibility is clear and insurance coverage is straightforward. In other cases, determining responsibility requires detailed analysis.
However, if a client loses money due to a technical glitch in the system that aids scammers, the bank bears full responsibility.
If you have been scammed, the first step is to contact your bank and file a fraud complaint. It is also advisable to consult with specialists to determine if your computer needs to be reinstalled or passwords reset.
Some bank cards offer insurance that covers different types of damage, depending on the situation. These policies typically apply when responsibility is clear and not in dispute.
When money has been wrongly transferred, the bank will request its return. Therefore, it is crucial to notify the bank as soon as possible, emphasises Lars Weber. Once the bank is alerted, it will conduct an analysis to determine the specifics of the incident before deciding on the next steps.
The time it takes for a victim to be reimbursed can vary. If the situation is quickly clarified and the money was transferred to a bank within Europe, reimbursement might occur within a few days. However, if, for example, cryptocurrencies are involved, the situation becomes more complex. Modern transaction systems operate in near real-time, meaning transfers are often completed within seconds, which narrows the window for intervention.
Phishing is the most prevalent form of scam. In these cases, individuals are contacted, typically via social media, text message, or email, and asked to provide personal information such as passwords, PIN codes, or other sensitive data. Additionally, there are scams where individuals are instructed to perform actions like accepting or forwarding parcels.
Weber notes that managing money online should be approached with the same caution as in the real world. Vigilance is key. Scammers often create a sense of urgency to pressure victims into quick decisions, similar to phishing scenarios.
Weber advises maintaining scepticism, especially when under pressure. If something seems too good to be true, it likely is. When receiving a suspicious email or text message, take a moment to consider its legitimacy rather than reacting impulsively. A bank or official entity will never ask for your password. If you receive such a request, it is certainly a scam, Weber warns.
Full report by RTL Télé (in Luxembourgish)
