The Role of Banking in the Economy Paper

Bank Customer Liability
A customer who avails of the banks’ service is stated to be a customer of the bank, and many of the times, it can be stated that the customers are liable for the negligence caused on their behalf. Customer liability places accountability on the consumers to prevent negligence in consumption activities. The contracts state the liability of the consumers and protect the organization from the negligence of the consumers. The liability is the contractual obligation that place accountability on consumers to prevent negligence in the activities of the consumers who use the bank’s service. The consumer liability is based on the lines contract or terms of service undertaken. The policies that govern the transactions are covered and governed by particular acts. The affixing of the liability on the consumer depends on the act of negligence. In the United States, there is the prevalence of the Electronic Fund Transfer Act, 1978 that was formulated as the response when people undertook electronic banking. In the act, it was stated that if the consumers face unauthorized electronic transfers concerning the bank accounts in their name, there will be a prevalence of limited liability. Often, there is a loss to the consumers in the bank transactions upon the customer’s negligence. The bank faces substantial losses over the year upon the negligence of the consumer and because the consumers are not aware of the scams that are ongoing in the market. Based on sheer negligence, the customers’ privacy is violated to a great deal of exchange. Mainly with the multiple e-commerce sites floating in the market, it is stated that most of the time, the customers are frauded out of the money they earned.

The Role of Banking in the Economy
Banks make a complex economy function quickly. The banks serve as the critical intermediary of the entire business transactions that happen in the economy. Banks play an essential role in acting as the intermediary between the people who have surplus money and those who require the excess of money. The banks also help in the national development by providing support to people who need the same. The bank also provides the small scale business and other entities who are in need. The banks also enable the reduction of the use of the currency and encourage the usage of checks, net banking, and credit cards. The savings that the citizens formulate are used to further development. Banks are the facilitator of the mobilization of the savings of the citizens. Banks, in a way, uplift the standard of living of the people. The banks also undertake the development of the rural economy and shaping the future of the nation. The banks are also influential and instrumental in facilitating foreign trade, and import-export transactions. Banks can be one of the most important institutions that regulate the financial markets in ways more than one. One of the essential functions that the banks undertake is that the particular institution encourages savings and inculcates depositing idle money.

Don't use plagiarized sources. Get Your Custom Essay on
The Role of Banking in the Economy Paper
Just from $9/Page
Order Essay

Banking Frauds

The banks and the financial institutions have a substantial amount of power and command over an individual’s wealth and said finances of the public. There are many occasions where specific scams have happened where the customers have suffered to a great deal of extent. In the general sense, banking fraud involved illegal means to obtain money, property, and assets. When the banking fraud is undertaken, the penalties that are involved are monetary and sometimes are accompanied by imprisonment.

The commission of monetary fraud can be carried out in many aspects, and one of the traditional aspects is money laundering. Money laundering is stated as an act where large sums are moved illegally from one account to another. The money in furtherance is put in several businesses and is shown that it is earned legitimately. Another one of the most common incidences of bank fraud is the occurrence of stolen checks. Under the scenario, the perpetrators open the bank accounts under false identities and acquire the fake checks and, in furtherance to that, will steal cash. Another kind of bank fraud can be stated as accounting fraud. Accounting fraud is a practice where modifying, tampering, and falsifying details in the companies ledger and records are involved. Banking fraud is a severe offense that is punishable with the attachment of severe penalties.

Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently

Online Academic Help With Different Subjects


Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.


Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!


While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.


Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.


In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.


Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.


We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!


We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.


Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

order custom essay paper