Sir, In Banking, under CTS scenario, if the truncated cheque is also send physically to the drawee bank(paper to follow), then who is responsible if the cheque is a fraud or forged? Since the presenting bank has send the physical cheque to the drawee bank, is the presenting bank still responsible?
1 Answer from Attorneys
If the presenting bank which is the collecting bank has acted negligently or in bad faith it will be liable.Otherwise not.
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