Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

SEPA direct debits security risk

  • 24-02-2010 4:42am
    #1
    probe
    Closed Accounts Posts: 2,055 ✭✭✭


    The BEUC issued a warning about the controls over the origination of SEPA DDs. Virtually any business in the EU in possession of your bank account details could hoover up funds in your bank account with little difficulty.

    EU regulations require companies to publish their IBAN on invoices so they can be paid directly. A fraudulent issuer of SEPA DDs only needs a copy of a company's invoice to get sufficient details to issue a direct debit on their bank account!

    In France, any organization originating a direct debit equivalent on another party's account has to be in possession of a RIB from the party being debited in order to process DD transactions on their account. You only give a RIB to a company you trust. If your account is debited by anyone not holding a RIB, you can do a chargeback to them. Of course there is a risk in an Europe-wide context that the fraudster might have cleaned out his/her bank account before the chargeback is processed! The account holding bank originating the SEPA DD should be required to indemnify the debited party against this risk.

    http://www.beuc.org/Content/Default.asp?PageID=835* - (nasty website that doesn't facilitate direct links to the document in question).

    Example of a RIB: http://www.bnpparibas.net/banque/portail/particulier/Fiche?type=folder&identifiant=Qu_est_ce_qu_un_RIB_20021007155303


Advertisement