Not sure about that, but it seems like people will be protected. "In a statement the Financial Services Commission, Korea's national financial regulator, said: "The credit card firms will cover any financial losses caused to their customers due to the latest accident."
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Do other countries have the same kind of consumer protection that the western world has in these cases?
Or are these regulations country-by-country?
Not sure about that, but it seems like people will be protected. "In a statement the Financial Services Commission, Korea's national financial regulator, said: "The credit card firms will cover any financial losses caused to their customers due to the latest accident."
the US protections were created by the Fair Credit Billing Act in 1975.
http://en.wikipedia.org/wiki/Fair_Credit_Billing_Act
It would be interesting to hear what sort of protection Visa/etc offers in other countries.