Institutional Research Information Service
UCL Logo
Please report any queries concerning the funding data grouped in the sections named "Externally Awarded" or "Internally Disbursed" (shown on the profile page) to your Research Finance Administrator. Your can find your Research Finance Administrator at https://www.ucl.ac.uk/finance/research/rs-contacts.php by entering your department
Please report any queries concerning the student data shown on the profile page to:

Email: portico-services@ucl.ac.uk

Help Desk: http://www.ucl.ac.uk/ras/portico/helpdesk
Publication Detail
International Comparison of Bank Fraud Reimbursement: Customer Perceptions and Contractual Terms
  • Publication Type:
  • Authors:
    Becker I, Hutchings A, Abu-Salma R, Anderson R, Bohm N, Murdoch SJ, Sasse MA, Stringhini G
  • Publication date:
  • Status:
  • Name of conference:
    Workshop on the Economics of Information Security (WEIS)
  • Conference place:
    Berkeley, US
  • Conference start date:
  • Conference finish date:
  • Keywords:
    Banking Security, Terms and Conditions, Usable Banking, Usable Security, Cross-cultural study
We set out to investigate how customers comprehend bank terms and conditions (T&Cs). If T&Cs are incomprehensible, then it is unreasonable to expect customers to comply with them. An expert analysis of 30 bank contracts across 25 countries found that in most cases the contract terms were too vague to be understood; in some cases they differ by product type, and advice can even be contradictory. While many banks allow customers to write PINs down as long as they are disguised and not kept with the card, 20% of banks do not allow PINs to be written down at all, and a handful do not allow PINs to be shared between accounts. We test our findings on 151 participants in Germany, the US and UK. They mostly agree: only 35% fully understand the T&Cs, and 28% find that sections are unclear. There are strong regional variations: Germans find their T&Cs particularly hard to understand, but Americans assume harsher T&Cs than they actually are, and tend to be reassured when they actually read them.
Publication data is maintained in RPS. Visit https://rps.ucl.ac.uk
 More search options
UCL Researchers
Dept of Security and Crime Science
Dept of Computer Science
Dept of Computer Science
University College London - Gower Street - London - WC1E 6BT Tel:+44 (0)20 7679 2000

© UCL 1999–2011

Search by