Think Your Bank Is Responsible for Providing Adequate Security? Maybe Not!

These are US court cases, but it is an example of a battle that is, or will be, fought in every country. There is little in the way of case law to clearly determine who is liable when inadequate security results in fraudulent bank transactions. Who will pay when the money cannot be recovered? Until recently, many banks have chosen to cover the losses in order to avoid the publicity associated with these fraudulent transactions.

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