[ad_1]
As reported by the Central Bank, the violations were identified following an investigation by the Bank of Lithuania, which examined payment service incidents that occurred between July and August 2020.
“The Bank of Lithuania established that Luminor did not fulfill one of the essential obligations of the payment service provider: it did not ensure the client’s ability to dispose of the funds in his account. In one incident, a commercial bank executed 772 unauthorized payment transactions (that is, without customer consent) that duplicated approved transactions of more than $ 1 million. EUR amount. “It turned out that the commercial bank did not take adequate measures to solve the problem; most of the affected consumers did not return the money at the end of the next business day, as required by the Payment Law,” the central bank said.
150 thousand were assigned for this minor offense. a fine of EUR.
Others, 100 thousand. According to the Bank of Lithuania, a fine imposed on Luminor for improper communication with customers or for failing to provide them with important information during incidents.
“Such behavior had consequences – it is estimated that during the incident related to the mobile signature at least 5.5 thousand.” Customers who repeatedly tried to connect with a mobile firm had their Internet bank access completely blocked, but Luminor did not give them a reason for the block and did not take appropriate action to remove the block. For this infraction, a commercial bank was also assigned 100,000. fines, ”says the central bank.
In his comments, Indrė Baltrušaitienė, Luminor’s Head of Communications, states that Luminor acknowledges the Bank of Lithuania’s findings and has eliminated the shortcomings identified in the study.
“The aforementioned incidents took place last summer during one of the most complex technological transformations, during which a large amount of our customers’ data and accounts was transferred to a new unified platform,” says I. Baltrušaitienė.
According to her, to avoid the recurrence of these types of incidents, the bank has made important day-to-day operational and strategic changes, and has started working with IBM to accelerate digital transformation.
No part of this publication may be reproduced without the written permission of ELTA.
[ad_2]
