A group of Eurobic/Abanca customers has filed a formal complaint with the Bank of Portugal, urging it to acknowledge the bank’s alleged failure to protect client accounts and to reimburse funds lost through unauthorized transfers.
The clients report multiple cases of money disappearing from accounts — from €2,000 to €200,000 — without codes being shared, apps being accessed, or any strong authentication in place. They argue the bank still cannot prove these transactions were properly authorized and warn that security flaws persist, despite earlier alerts.
They also point to a previous ECB fine of over €3 million for serious security lapses, arguing this strengthens their claim. Citing PSD2 rules, they insist the bank must refund unauthorized transfers and face penalties for ongoing failures.
Eurobic/Abanca rejects the accusations, saying its systems show no internal breaches and that increasingly sophisticated external fraud schemes are to blame. The bank says it is cooperating with authorities and strengthening its fraud-prevention measures, while customers continue to argue that the regulator has ignored clear evidence of systemic issues.
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