THE LIMIT OF BANKS’ LIABILITY FOR THIRD PARTY FRAUD AGAINST CONSUMERS

Abstract

The Consumer Protection Code is applicable to banking consumer relations,
with consumers and suppliers subject to its provisions, including the determination of civil liability for fraud and scams in banking operations. In the current economic/social scenario, many technologies have been implemented with the aim of facilitating access to products and services by consumers, while reducing banks’ costs. But, at the same time, consumers are more vulnerable and exposed to system failures, data leaks and crimes. Therefore, it is essential to analyze the scope of the banks’ responsibility in these fraudulent and scamming acts, since there is often no fault in their conduct, but rather an active participation of the consumers themselves, who, even without knowledge of the consequences of their actions, , end up being deceived and harmed, intending to be reimbursed by the banks.