translated from Spanish: Senator Harboe (PPD) at ABIF’s request to the TC: “banks have understood nothing”

“It is frankly unpresentable that the Association of Banks and Financial Institutions (ABIF) has filed an injunction with the Constitutional Court against the Card Fraud project,” said the PARLIAMENT for the PPD, Felipe Harboe.
It further complemented that, “this project was discussed with the presence of the Association of Banks, with the presence of the Minister of Economy, of the Financial Market Commission, and beyond some nuances and differences that we might have had, it is generally striking that the ABIF submits the request, not only because of a difference we had with respect to serious guilt or wilful , but with regard to the right to have to pay for the frauds that are the subject of customers.”
In this regard, the representative for the Uble and Biobio region explained that “when a client contracts a current account contract or RUT account with a bank, he has to pay and that payment implies that the bank will take responsibility for the funds that that person has deposited, and that the security measures that the bank adopts , are the right ones to give security to transactions”, adding further that “we have seen in the last time that that does not happen”
In the same vein, Harboe warned that “the investment in cybersecurity of banking remains below the international banking average and therefore now they found nothing better than creating insurance; that is, the client has to take out insurance, at its cost, to cover possible frauds caused by lack of investment of the banks, the best of the business”.
Finally, the congressman stated that “the banks have not understood anything and I deeply regret that this has happened. We are going to present a brief introducing that this is unacceptable and I hope that the Minister of Economy will have enough courage to be able to defend the rule that was passed in Congress to the constitutional court. Otherwise, it means it’s another branch of the bank.”

Original source in Spanish