The Dutch Banking Association (NVB) has, reportedly, given clearance to implement the new guidelines issued on banking related internet frauds.
Effective from January 2014, the new rules on internet fraud will allow banks to decide whether to reimburse consumer losses or not.
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Consumers falling victims to internet frauds on their bank accounts will now be required to provide proof of having followed the new five key security guidelines to get reimbursed.
In order to get refunded, consumers must prove that they had kept their PINs secure and did not loan out their card to third parties.
Additionally, they must have anti-virus software installed on their PC, should check account balance regularly and report any incidents immediately.
Earlier, banks adopted their own rules while deciding to reimburse customers on phishing frauds.
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By GlobalDataThe NVB was quoted by Finextra as saying that better education of consumers has reduced the value of losses to customers from phishing attacks and malware from 24.8m in the first six months of 2012 to 4.2m in the first half of 2013.
