Spanish Central Bank’s Complaints Department: Battling Identity Theft in Electronic Finance

The Complaints Department of the Spanish Central Bank has reported a surge in financial fraud cases, with a significant portion involving identity theft. This article explores the evolving nature of identity theft in Spain’s financial sector and the responses from financial organizations.

The Rise of Identity Theft in Spanish Finance

• Traditional identity theft in conventional financial transactions still poses a challenge
• Groundbreaking digital fraud, such as credit card fraud and online scams, is on the rise
• Online fraud poses unique challenges due to perpetrators’ impunity and potential for substantial financial losses

Consequences of Identity Theft in Financial Transactions

• Impersonated individuals unfairly demanded to repay debts
• Listed as defaulters on credit reporting agencies like CIRBE

Focus on E-Banking Services

This research particularly focuses on cases involving e-Banking Services, as they have contributed to the majority of issues in recent years.

About the Chapter

Title: Spanish Central Bank’s Complaints Department: Battling Identity Theft in Electronic Finance

Authors: María Luisa García Tallón (Head, Complaints Department, Central Bank of Spain)

Publication: To be published in ISSE 2008 Securing Electronic Business Processes (Vieweg+Teubner)

DOI: 10.1007/978-3-8348-9283-6_32

Publisher: Vieweg+Teubner

Print ISBN: 978-3-8348-0660-4

Online ISBN: 978-3-8348-9283-6

Importance of Preventing Identity Theft and Ensuring Financial Security

• Preventing identity theft and ensuring financial security is crucial for individuals and organizations
• This topic is of paramount importance for all stakeholders in the financial sector

Stay tuned for more insights into this evolving issue and the measures being taken against it.