I'm not an expert in this, but I imagine a clause such as this is pretty standard in banking. The reason being that it waives _the company_ of fraud liability.

I'm not an expert in this, but I imagine a clause such as this is pretty standard in banking. The reason being that it waives _the company_ of fraud liability. Consumer banking offers protections, but the company is not held liable for the fraud. For example, imagine that American Express be held liable because your card was stolen. That doesn't make much sense, thus they want to protect themselves against those claims.