It is well established that the responsibility and liability of a bank towards its customer is governed by the applicable law and the relevant contract entered into between the two parties. This contract also determines how the services will be provided and sets out the obligations of each party. In the event of a breach of an express or implied term of a contract, three elements a be satisfied in order to establish liability: proof of breach by the bank against the aggrieved, damages and the causation between the fault and the damage suffered by the aggrieved. 