Fraud, the Consumer, and the Banks: The (un-) Regulation of Electronic Funds Transfer

ROBERT HAYHOE

ABSTRACT

Consumer electronic funds transfer is increasingly important. Despite assurances to the contrary by financial institutions, the risk of fraud is genuine. In Canada, this risk is entirely on the customer. Due to the small amounts involved, the common law does not provide a useful remedy. This comment examines the solutions attempted in the United States and Australia. While the substance of the two solutions is similar and both produce an acceptable result, the Australian `soft law' approach would be preferable in Canada.

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Citation: (1995) 53(2) U.T. Fac. L. Rev. 346.
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