National Bank of Serbia issues consumer guidance on WhatsApp impersonation scams and payment recovery steps

The National Bank of Serbia published an “It is useful to know” explainer from its Financial Services User Protection Sector on how consumers can recognise WhatsApp-based impersonation scams, protect themselves before making payments, and what they can do if they have already transferred money to a fraudster. The note describes a typical scheme in which a compromised WhatsApp account is used to message contacts with an urgent request for money, for example asking to “lend” RSD 125,000 and providing an account number that belongs to the fraudster. Consumers are encouraged to verify the requester’s identity via another channel, ideally by phone, particularly where the scammer insists on text-only communication and avoids calls, and to cross-check payment details where possible. It also highlights use of the “Transfer” service offered by most Serbian banks, which allows users to send money to a known phone number linked to the intended recipient’s account. On redress, the guidance states that payments initiated by a victim under deception are not treated as unauthorised transactions and the bank is not responsible for the resulting loss, while the bank must take reasonable measures to try to recover funds, including sending a refund request to the payee’s bank where the recipient account is held domestically. Users are instructed to report suspected fraud to their bank immediately with relevant data and documentation; if funds are still in the recipient account, they may be returned under the procedure and deadlines in Article 56 of the Law on Payment Services. The National Bank of Serbia also notes it reviews banks’ conduct through its complaint-handling process where a user believes the bank did not meet its legal obligations.