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Judge rules banks can't escape liability in app scams

Original: Banks can't escape liability in app scams, judge rules Fraud victims do not give criminals "actual authorization" to the

A judge has ruled that fraud victims do not give criminals "actual authorization" to their bank accounts, allowing a lawsuit against Bank of America over an app-based scam to move forward. The decision means banks cannot easily avoid liability for unauthorized transfers, and it could reshape how financial institutions handle scam-related disputes with customers.

Why now: The ruling sets a precedent that could cost banks money and change how they treat scam victims.

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Evidence

• Banks can't escape liability in app scams, judge rules Fraud victims do not give criminals "actual authorization" to their bank accounts, a judge ruled, allowing a suit against Bank of America to move forward. https://www. americanbanker.com/news/banks-… · AlexJimenez@mas.to

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