NETHERLANDS Law and Practice Contributed by: Roderik Vrolijk, Rogier Raas, Ingrid Viertelhauzen and Maarten Weekenborg, Stibbe
authentication, correct recording and the absence of technical failure. The PSP may refuse reimbursement where losses result from the customer’s fraud or gross negligence in safeguarding security credentials. The proposed PSR will introduce two new PSP liabil - ity triggers: (i) where authorised push-payment fraud involves impersonation of the PSP, provided the cus - tomer reports the fraud to the police and notifies the PSP, and (ii) where the PSP fails to properly implement fraud prevention mechanisms, including payee name and IBAN verification for all transfers.
For crypto-asset services, CASPs are liable under MiCAR for any loss of crypto-assets attributable to them, including losses from custody and staking. The Wft imposes a general duty of care requiring finan - cial service providers to act in clients’ best interests. A breach of this duty of care may give rise to civil liability under Dutch law. Customer disputes may also be sub - mitted to the Financial Services Complaints Institute ( Klachteninstituut Financiële Dienstverlening , Kifid).
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