Banks refunding Internet fraud losses
Date: February 24, 2006Source: SFGate.com
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"It has always been our practice to make clients whole in cases of unauthorized account activity," said CEO Charles Schwab in a statement. "Our new security guarantee turns that historic practice into a public promise."
The pledge covers abuses such as phishing attacks, in which thieves use forged e-mails and Web sites to trick account holders into divulging passwords.
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