Banco de La Pampa fined over $2.8M phishing case

The Santa Rosa Civil, Commercial, Labor and Mining Appeals Court upheld a fine against Banco de La Pampa for failing to use adequate mechanisms to verify a user's identity and detect unusual transactions after a phishing case. The scam involved three transfers totaling 2.8 million pesos, after the victim handed over a username and token password following phone instructions from third parties.

What did the court fault the bank for?

The ruling said the bank did not put in place enough controls to detect or confirm suspicious transactions. It also found it relevant that there were no alerts for access from unusual devices or locations, or for atypical fund movements over short periods.

According to Radio Don and InfoPico, the case was tied to a failure to verify the user's identity and to monitor activity after the deception. The decision also upheld the administrative sanction linked to Law 24.240.

What rules were considered?

The administrative sanction was linked to four articles of Law 24.240, covering the duty to inform, consumer protection, risky services, and the way the service was provided.

InfoPico cited that legal framework while reporting the confirmation of the fine. Radio Don, meanwhile, said the bank had not implemented enough mechanisms to detect or confirm suspicious transactions, a point that became central to the court case.

How did the scam unfold?

The scheme began when the victim gave away a username and token password after receiving phone instructions from third parties. With that access, three transfers were carried out for a total of 2.8 million pesos, according to InfoPico.

The coverage also said the ruling weighed the lack of alerts for access from unusual devices or locations, along with atypical fund movements over short periods. That was one of the elements used to uphold the fine against Banco de La Pampa.