Lebanon Electronic Transactions and Personal Data Protection Law (Law No. 81/2018) 57: Articles 56 to 59: loss, theft and fraud: blocking, one-month refund and issuer liability

What does 57 require?

The holder must report loss or theft, orally, in writing or electronically, as soon as it is known, and the issuer must stop the card and prevent its use at once (Article 56). If the holder reports within the period Banque du Liban sets, the holder bears no consequence of loss, theft or fraudulent use by others and the issuer must re-credit the disputed amounts within one month of the report without extra charge, unless it proves gross fault, gross negligence or bad faith (Article 57). The same applies to remote payments made without presenting the card or identifying the holder and to payments with a counterfeit card while the holder held the original (Article 58). The issuer is liable for non-execution or poor execution of the holder's orders, transactions made without the holder's consent and errors in managing the account (Article 59).