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November 23, 2022

Poland’s UOKiK charges four banks for failing to handle unauthorised transactions

The Office of Competition and Consumer Protection (UOKiK), the consumer watchdog of Poland, has charged four banks for allegedly mishandling unauthorised transactions that were reported by customers, reported Reuters.

The banks levelled with charges are Bank Pocztowy , ING Bank Slaski, NEST Bank and Santander Consumer Bank.

The watchdog said that the disappeared money from the accounts of customers was not returned by the banks within the stipulated time period.

It also stated that customers allegedly got misleading responses from the banks on their complaints.

The lenders, if found guilty, are likely to face penalties of up to 10% of their annual revenue.

UOKiK head Tomasz Chrostny said: “Unfortunately … banks very often fail to meet the statutory obligation to return funds lost as a result of unauthorised transactions, and in addition they mislead consumers.”

Santander Consumer Bank spokesperson told the news agency that it was looking at the watchdog’s decision and would understand its position and review what action must be taken.

ING Bank Slaski and Nest Bank , however, did not respond, reported the news agency.

Bank Pocztowy spokesman Bartosz Trzciński said:  “We attach particular importance to good relations with our clients, communication with them and clarifying any doubts”.

The lender has sent a letter to the head of UOKiK, clarifying its position.

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