Will SEB Refund Scammed Money?

SEB can refund money lost to fraud, but the refund is not automatic in every case. The logic is consistent across the group: for unauthorised transactions and card fraud, the chances of recovery are higher; for transfers confirmed by the client under the influence of deception, the bank conducts an individual investigation. In Sweden, a Supreme Court ruling has strengthened fraud victims’ ability to claim compensation. In the Baltic states, SEB confirms the ability to cancel or dispute transactions when notified promptly. Immediate contact with SEB’s fraud line in the relevant country is the critical first step.

When SEB Is Obligated to Refund

The determining factor is whether the transaction was authorised by the client. Under PSD2, SEB is obligated to refund unauthorised payment transactions unless it can demonstrate gross negligence or fraud on the part of the client. Across all SEB jurisdictions, the bank conducts an individual investigation for each reported case and assesses whether the payment could have been stopped, disputed, or reviewed. For authorised payments, the bank’s obligation is weaker, but the Swedish Supreme Court ruling and Baltic operational practices create additional pathways for recovery that are not available at all banks.

Unauthorised Transactions

Where a transaction was executed without the client’s consent – including card theft, account takeover, or operations the client did not confirm – the client’s position is strongest. Under PSD2, the payment service provider must refund the full amount of an unauthorised transaction unless it proves gross negligence on the part of the client. SEB provides immediate blocking of cards, internet banking, and account access across all markets. In Lithuania, SEB explicitly states it can cancel or dispute transactions upon prompt notification. A victim who could not have prevented the unauthorised access through reasonable care is not considered to have acted with gross negligence. The burden of proving gross negligence lies with the bank.

Swedish Supreme Court Ruling – Enhanced Recovery Rights

SEB in Sweden explicitly states that following a Supreme Court ruling, fraud victims have additional grounds to request compensation and that previously rejected cases can be submitted for review. This is a significant development – it means that clients whose claims were denied in the past may now have a basis for reopening their cases. SEB directs clients to call 0771-365 365 to request a review. This makes Sweden currently the most explicitly favourable jurisdiction within the SEB group for fraud recovery, particularly for cases that fall between clear unauthorised fraud and fully authorised payments.

Authorised Transfers Under the Influence of Fraudsters

Where the client confirmed the transfer themselves – through BankID, Smart-ID, or app authentication under a fraudster’s instructions – the transaction is classified as authorised. SEB is not obligated to refund automatically but conducts an individual investigation. The bank assesses whether the payment could have been stopped, whether anomaly indicators were present, and whether a recall or dispute is still possible. For investment scams, romance scams, and transfers made “on instructions of a bank or police officer,” the outcome depends on the specific facts, the speed of notification, and the bank’s fraud detection capabilities. In the Baltic states, SEB confirms the ability to operatively cancel or dispute certain transactions when the client reports promptly.

Card Fraud

For card fraud – unauthorised card transactions including stolen card data and compromised credentials – the probability of recovery is highest across all SEB markets. The bank provides immediate card blocking and initiates a dispute. The chargeback mechanism through Visa or Mastercard applies under payment scheme rules. In Estonia, SEB publishes a dedicated email for card transaction disputes: tagasinouded@seb.ee.

When SEB Refuses a Refund

SEB may refuse a refund in several situations. First – the client confirmed the transfer through BankID, Smart-ID, or authentication codes, and the transaction is classified as authorised with no anomaly indicators detected. Second – the client disclosed login credentials or codes under social engineering pressure. Third – the transfer has been completed and the funds were withdrawn from the recipient’s account before a recall could be initiated. Fourth – the fraud was reported too late. A refusal by SEB is not final – in Sweden, the Supreme Court ruling provides explicit grounds for review of previously rejected cases. Across all markets, the client is entitled to escalate through the bank’s complaints procedure and subsequently through regulatory and judicial mechanisms.

Immediate Steps After Discovering Fraud

Step 1 – Contact SEB’s Fraud Line Immediately

SEB operates dedicated contact lines across its core markets. In Sweden: 0771-365 365 (fraud and case review). In Estonia: +372 665 5100 (customer service) or info@seb.ee (non-urgent fraud contact). In Latvia: +371 26668777 or +371 67779988 (urgent fraud). In Lithuania: +370 5 268 2800 (24/7, private clients) or +370 5 268 2822 (business clients). The client should call immediately upon any suspicion of fraud – SEB emphasises that speed of reporting is critical to limiting damage and enabling the bank to cancel or dispute the transaction.

Step 2 – Block Cards, Internet Banking, and Account Access

All compromised cards and internet banking access must be blocked immediately through the mobile app, internet banking, or by calling the fraud line. In the Baltic states, SEB can immediately block cards and internet banking upon receiving the fraud report. This prevents further unauthorised transactions and limits the exploitation window.

Step 3 – Preserve All Evidence

All correspondence with the fraudster, phishing emails, SMS messages, call logs, screenshots, transaction confirmations, recipient details, and any other supporting materials must be preserved without alteration. Digital evidence forms the foundation for SEB’s individual investigation, the dispute process, and any subsequent regulatory or judicial proceedings.

Step 4 – File a Police Report

In parallel with notifying SEB, a criminal complaint should be filed with the relevant national police authority – Polisen (Sweden), Politsei- ja Piirivalveamet (Estonia), Valsts Policija (Latvia), or Lietuvos Policija (Lithuania). The police report is essential for both the bank’s investigation and any subsequent legal proceedings.

Step 5 – Submit a Written Claim and Escalate

The client should submit a written claim (pretenzija/reklamation) to SEB through the appropriate channel. In Estonia, card transaction disputes are sent to tagasinouded@seb.ee. In Lithuania, SEB reviews complaints typically within 15 business days. In Sweden, previously rejected fraud cases can be submitted for review following the Supreme Court ruling. If the complaint is not resolved satisfactorily, the dispute can be escalated to the relevant national ombudsman or regulator.

Alternative Recovery Mechanisms

National Financial Ombudsman and Dispute Resolution

Depending on the SEB entity, the client can escalate to the relevant national body. In Sweden: Allmänna reklamationsnämnden (ARN). In Estonia: the Consumer Disputes Committee or Finantsinspektsioon complaints process. In Latvia: FKTK (Financial and Capital Market Commission). In Lithuania: Bank of Lithuania dispute resolution service. In Denmark: Det Finansielle Ankenævn. In the UK: Financial Ombudsman Service, with complaints directed to SEBUKComplaints@seb.co.uk. These bodies provide independent review free of charge for the client.

Complaint to the Financial Regulator

SEB entities are supervised by national regulators in each jurisdiction. Sweden: Finansinspektionen. Estonia: Finantsinspektsioon. Latvia: FKTK. Lithuania: Lietuvos bankas. Finland: Finanssivalvonta. Denmark: Finanstilsynet. Norway: Finanstilsynet. Germany: BaFin. UK: FCA. A regulatory complaint does not return funds directly but initiates a supervisory review and creates regulatory pressure.

Civil Litigation

Civil proceedings against SEB are available under the applicable national and EU law where a breach of PSD2 obligations is proven, Strong Customer Authentication was not applied, suspicious transaction patterns were ignored, or fraud notifications received an inadequate response. In Sweden, the Supreme Court ruling provides additional legal basis for fraud recovery claims. Civil proceedings against the fraudster are available in parallel where the fraudster is identified. The European Account Preservation Order (EAPO) enables the freezing of the fraudster’s assets across all EU member states simultaneously.

Criminal Proceedings

A criminal complaint filed with the relevant national police authority initiates an investigation in which law enforcement authorities gain access to bank records, IP logs, payment system data, and telecommunications operator records. Criminal investigation is the primary tool for identifying anonymous fraudsters and tracing the movement of stolen funds across jurisdictions.

SEB Contact Details for Fraud Enquiries by Country

SEB operates across multiple European jurisdictions with varying service models – full retail banking in Sweden and the Baltic states, and primarily corporate/institutional services in other markets. Sweden – Head office: Kungsträdgårdsgatan 8, Stockholm. Switchboard: +46 771 62 10 00. Fraud / case review: 0771-365 365. Estonia – AS SEB Pank, Tornimäe 2, 15010 Tallinn. Customer service: +372 665 5100. Email: info@seb.ee. Card disputes: tagasinouded@seb.ee. Latvia – AS “SEB banka”, Elizabetes iela 95, Rīga, LV-1050. Phone: +371 26668777. Urgent fraud: +371 26668777 / +371 67779988. Email: info@seb.lv. Lithuania – AB SEB bankas, Konstitucijos ave. 24, LT-08131 Vilnius. Private clients (24/7): +370 5 268 2800. Business: +370 5 268 2822. Email: info@seb.lt. Complaint response: up to 15 business days. Denmark – Bernstorffsgade 50, 1577 Copenhagen V. Phone: +45 33 28 28 28. SEB Kort: +45 36 73 74 45 / sebkort@sebkort.dk. Card blocking (Eurocard/AirPlus): 70 301 201. Finland – Eteläesplanadi 18, 00130 Helsinki. Phone: +358 9 6162 8000. Card loss (24/7): +358 800 155 777. Email: palaute@seb.fi. Norway – Filipstadveien 10, N-0250 Oslo. Phone: +47 22 82 66 22. Email: kundeservice@seb.no. Eurocard: +47 21 01 53 20. Mastercard: +47 21 01 53 50. Germany – Stephanstraße 14–16, 60313 Frankfurt am Main. Phone: 069 258-0. Email: information@seb.de. Also serves Austria and Switzerland. UK – One Carter Lane, London EC4V 5AN. Phone: +44 20 72 46 40 00. Email: info@seb.co.uk. Complaints: SEBUKComplaints@seb.co.uk. Luxembourg – 4, rue Peternelchen, L-2370 Howald. Phone: +352 26 23 1. Email: contact@sebgroup.lu. Poland – ul. Żelazna 51/53, 00-841 Warsaw. Phone: +48 223 958 000. Card loss: +48 32 357 00 12.