The bank's tort fault about money laundering in the documentary credit process - Comparative Study

Abstract

Banking fault are represented by the framework of a tort liability, which occurs when a bank breaches duty assigned to it based on laws and professional standards. And when it is related to a professional activity, every profession has standards that have to be taken into consideration. And if the responsible party could not implement its duties with caution, then the responsible party can cause harm to their customers. In return, customers have the right to be reimbursed only when they can prove the liability of the bank for the harm and the causal relationship between the bank and the customer. When fault attributed to the bank as a result of the civil responsibility on its personal actions or negligence of its employees or other mediating banks, the bank has a commitment to not breach its legal duty. And bank commitment can be in the form of taking caution to not harm their customers, or it takes the form of the special duty imposed by the legislator on the bank and its employees to combat money laundering.

Keywords

• key words: documentary credit,,
• ,،,؛money laundering,,
• ,،,؛professional duties of the bank,,
• ,،,؛cases of bank's negligence fault