Hide metadata

dc.date.accessioned2021-03-26T20:46:56Z
dc.date.available2021-03-26T20:46:56Z
dc.date.created2020-02-14T17:32:52Z
dc.date.issued2020
dc.identifier.citationKjørven, Marte Eidsand . Who Pays When Things Go Wrong? Online Financial Fraud and Consumer Protection in Scandinavia and Europe. European Business Law Review. 2020, 31(1), 77-110
dc.identifier.urihttp://hdl.handle.net/10852/84985
dc.description.abstractOnline financial fraud targeted at consumers through phishing attacks and identity theft, for example, is a growing problem. Because it can be difficult to recover losses from the person who committed the fraud, the loss will often remain with either the financial institution or the consumer. This paper’s research question relates to how losses following online financial fraud are and should be allocated between these two parties according to relevant Scandinavian and European law. For payment-transaction fraud, questions of loss allocation are regulated by national rules implementing the liability regime for unauthorised payment transactions under the payment services directive. For other financial services, these questions are resolved according to general rules on contract and tort. The analysis shows that consumers are often left to deal with the losses caused by online financial fraud. It is argued that the digitalisation of the financial services industry has in practice led to a shift in who bears the risk for attacks against financial institutions. This conflicts with the EU’s stated policy goals to provide strong consumer protection in the field of cybercrime. The paper concludes that a larger portion of the losses incurred from online financial fraud should be allocated to financial institutions.
dc.languageEN
dc.titleWho Pays When Things Go Wrong? Online Financial Fraud and Consumer Protection in Scandinavia and Europe
dc.typeJournal article
dc.creator.authorKjørven, Marte Eidsand
cristin.unitcode185,12,2,0
cristin.unitnameInstitutt for privatrett
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode2
dc.identifier.cristin1794327
dc.identifier.bibliographiccitationinfo:ofi/fmt:kev:mtx:ctx&ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=European Business Law Review&rft.volume=31&rft.spage=77&rft.date=2020
dc.identifier.jtitleEuropean Business Law Review
dc.identifier.volume31
dc.identifier.issue1
dc.identifier.startpage77
dc.identifier.endpage110
dc.identifier.urnURN:NBN:no-87668
dc.type.documentTidsskriftartikkel
dc.type.peerreviewedPeer reviewed
dc.source.issn0959-6941
dc.identifier.fulltextFulltext https://www.duo.uio.no/bitstream/handle/10852/84985/2/Financial%2Bfraud%2BSSRN-id3583369.pdf
dc.type.versionAcceptedVersion


Files in this item

Appears in the following Collection

Hide metadata