Banks: Liability risks in case of breach of due diligence (update)

If banks violate due diligence obligations, this can lead to financial damage and corresponding liability. However, this is not all. A breach of due diligence can also lead to active money laundering and aid to fraud. Then the limit is exceeded to a criminal act. Compliance with due diligence obligations and the action according to the regulatory and legal requirements is therefore not optional, but a must. Due diligence obligations A duty of ca…