Are Banks Liable For Loss In Cases of ATM Fraud?
Who is liable for loss in cases of Automated Teller Machine (ATM) fraud? Is it the bank, the customers or the service provider? This was one of the subjects of discussion last week by the Section on Legal Practice (SLP) of the Nigerian Bar Association (NBA) at the just concluded Annual General Conference held in Lagos. A Senior Advocate of Nigeria (SAN), Mr. Yusuf Ali, urged the National Assembly to pass a law that would regulate e-payment in Nigeria and specify punishment for ATM fraudsters. Another SAN, Mr. A. B. Mahmoud, urged lawyers to push for such regulatory mechanism. It was agreed that when the bank, the customer or the service provider falls short of what is expected of the party, or fails to do what would protect another party from foreseeable risks or harm, that party is liable. ATM fraud, it is also agreed, comes with a legal burden, which lies with the customer seeking refund of damages. The relief that defrauded customer seeks may only be fulfilled through clear and conv
