Phishing attacks leading to asset loss raise complex questions of liability. Victims often bear the brunt, but responsibility depends on context. Individuals must exercise diligence, using strong passwords and verifying communications. However, organizations—such as banks or platforms—may share liability if they fail to implement robust security, like two-factor authentication or timely fraud detection. Legal frameworks vary: some jurisdictions hold users accountable for negligence, while others impose stricter duties on institutions to protect clients. Shared responsibility models are emerging, where both parties are expected to uphold reasonable safeguards. Ultimately, clear policies, user education, and proactive cybersecurity reduce risks and disputes. Courts may assess each case based on evidence of negligence or systemic failures. Effective collaboration between users and providers is key to minimizing phishing-related losses and ensuring fair accountability.