The Protection of Users of E-banking Services in Cameroon: A Legal Approach
Keywords:
legislation, e-banking, Cameroon, risks, money launderingAbstract
Inspite of the existing legislation regulating the banking sector in Cameroon, users of e-banking are still exposed to so many risks such as cyber criminality, money laundering and even vulnerability of the internet and telecommunication network sector. As a result of these risks, it affects the perception of users of this banking service in Cameroon due to the reason that the law is not robust in affording protection to users of e-banking. It is, therefore, taken that, users of e-banking in Cameroon are not afforded adequate protection. Consequently, this work sets out to investigate on the effectiveness of the regulations in force in affording greater protection or guarantee to victims (users) of this banking service in Cameroon. We seek in this work, to bring out the responsibilities, liabilities and remedies of every party involved in one way or the other in any e-banking transaction when harm or loss is suffered by e-banking users. We have therefore decided to make use of the doctrinal method of research in this discourse. The fact that users of e-banking products are in a contractual relationship with the bank, puts them at a relative disadvantage. This is so because e-banking contracts are contracts of adhesion, whereby users will only contract on the terms of the bank. The law will therefore, have to step in to protect the weaker party who in most situations are the users of e-banking. We are thus, proposing that regulations relating to e-banking in general be adopted which should clearly spell out punishment, rights and responsibilities of the different stakeholders involved in this service so as afford greater protection to its users.
References
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15. Article 5 para 3
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19. Ibid, article 166 para 3.
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22. Ibid, article 193 para 2
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30. Ibid, section 8(2).
31. Ibid, section 12(2)
32. Ibid, section 10(2)
33. Ibid, section 12(1)
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36. Ibid, section 10(1)
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43. “Corporate bodies shall be criminally responsible for offences committed on their behalf by their organs or representatives.”
44. Ibid, section 18
45. Ibid, section 18-1
46. Ibid, section 19
47. Section 20, of the Penal Code.
48. The penalty contained in this section provides for imprisonment for from 15 days to 1 year or with fine of from 5000fcfa to 100.000fcfa or with both such imprisonment and fine.
49. Section 64(1) of the 2010 Law on Cyber Security and Cyber Criminality in Cameroon.
50. See Section 247 of the 2003 Law of 4 th April relating to Systems, Means and Incidents of Payments.
51. Ibid, Section 243(1), (2).
52. Ibid, Section 245
53. Section 3-1(1) of the 2000 Law on Copyright and Neighbouring Rights in Cameroon.
54. See section 1 of the Uniform Act organizing Simplified Recovery Procedures and Measures of Execution.
55. Ibid, section 2.
56. Ibid, Section 174
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58. The Moroccan Wafa assurance company is in partnership with the Societe Commerciale de Banque (SCB) Cameroun.
