Finance
EU agrees on new rules for online fraud protection
Published by Global Banking and Finance Review
Posted on November 27, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 27, 2025
1 min readLast updated: January 20, 2026
The EU has agreed on new rules to enhance online fraud protection, making banks liable for customer losses and requiring platforms to remove fraudulent ads.
BRUSSELS (Reuters) -EU member states and the European Parliament have agreed on new rules to force banks and other payment service providers to better protect their customers against online fraud, hidden fees and data leaks, the Parliament said on Thursday.
The new set of rules would make payment service providers liable for covering customers' losses if they fail to implement appropriate fraud prevention mechanisms, and would force them to freeze suspicious transactions.
The rules also give online platforms a responsibility to remove fraudulent ads, as platforms that fail to do so will be liable for the costs banks have made to reimburse their customers for related fraud.
The legislation should give more clarity on payment charges, guarantee better access to cash in rural areas and make it easier for payment providers to receive information from banks.
It would also force banks to ensure access to human customer care and not limit this to chatbots.
The Parliament and member states will have to formally adopt the rules before they come into effect.
(Reporting by Alessandro Parodi, editing by Bart Meijer)
Online fraud refers to any deceptive activity conducted over the internet with the intent to gain financial or personal information from individuals or organizations.
Payment service providers are companies that facilitate online payments by enabling businesses to accept various forms of payment, including credit cards and digital wallets.
Hidden fees are charges that are not immediately apparent to consumers, often included in the fine print of contracts or agreements, which can increase the overall cost of a service.
Customer care involves providing assistance and support to customers before, during, and after a purchase, ensuring their needs are met and enhancing their overall experience.
A suspicious transaction is any financial activity that appears unusual or inconsistent with a customer's normal behavior, potentially indicating fraud or illegal activity.
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