Re-credit Phished Customer?

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Question:

If a customer falls for a phishing email and gives out his account info online and then realizes he has been duped, do we have to re-credit the account?

Answer:

If the customer is making a claim under Section 205.6 or 205.11 of Regulation E, the answer is yes. The customer's carelessness or gullibility does not nullify the customer's protections from unauthorized EFTs.

First published on BankersOnline.com 6/29/09