Research On The Rules Of Loss Allocation In The Unauthorized Electronic Funds Transfer

Electronic Funds Transfer(EFT) which began from 1960s can be divided into big quantum and small quantum electronic funds transfers, according to the magnitude of the money and service object. This paper is to research how to allocate the loss which caused by the third unauthorized party outside the system on the small quantum of electronic funds transfers. The small quantum of EFT(merely because of the convenience of writing, it will use the electronic funds transfers directly), whose service object is individual customers, mostly use the Bank Card as launch tool to institute direct debit or lend individual customers account. As electronic funds transfers mainly use the Bank Card as launch tool, however, the present Bank Card itself has inhesion defaults, such as easily be forged and illegally used, so there have many unauthorized electronic funds transfers, and then it becomes a problem that any country which want to develop it.The loss caused by the third party outside the system is that party, such loss should be beard by the third party, just for sustaining normal operation of the system of electronic funds transfers, when the third party disappears, the loss should be allocated among parties in the system. Because the requirement of fault liability or fair liability is that the loss caused by the actor, since there has no necessary relationship between the loss and the activity of the holder or the bank, so both of them merely took advantaged by the third party. Therefore, it could be request the holder or bank to bear obligation based on the fault liability or fair liability, but only to seek new regulation of allocate loss.