Bunq fraud victims demand hearing of bank management under oath

A group of Bunq customers wants the management of the online bank to explain under oath what role it played in dealing with phishing and helpdesk fraud. This is reported by lawyer Chizki Loonstein, who is assisting the victims with other lawyers. Bunq has already promised to compensate the customers, but according to Loonstein, there are still "dozens" of victims for whom compensation is still outstanding.

The lawyers of the Bunq customers are now going to court for a "symbolic group" of ten people. "They have been told that they will not receive anything at all or have not yet received an offer," Loonstein explains. "While Bunq has indicated that it will generously accommodate all victims of fraud," according to the lawyer, the damage suffered by the group of victims amounts to hundreds of thousands.

The unrest at Bunq arose when NOS and NRC wrote at the end of May that a striking number of Bunq customers had lost their money due to scams. Dozens of affected customers lost up to 200,000 euros within minutes due to a combination of phishing and helpdesk fraud. Scammers posed as bank employees and pressured customers to share their login details or transfer money.

The Victims then had difficulty getting in touch with bank employees. There was also criticism of the lack of security measures. According to Bunq, 85 customers were affected by the scam and will be compensated for an average of 85 percent of the lost amount.

The lawyers now want to know from CEO Ali Niknam what Bunq did with fraud reports from customers. They also want to hear co- directors Vladimir Brodski and Raymond Kasiman under oath. Finally, experts in the field of cybersecurity must provide insight into the security of banks and their customers.

During the interrogation, it is mandatory to answer questions truthfully. Unlike before, Niknam must now "bare his bottom," says Loonstein. "He will no longer be able to beat around the bush."

The request to hear the persons involved under oath has been filed with the court in Amsterdam. The judge must still approve the request.

When asked, a spokesperson for Bunq stated that "Bunq is not aware of any petition, and we are therefore unable to respond substantively."