UK SUPREME COURT SAYS BANKS HAVE NO DUTY TO BLOCK TRANSACTIONS OVER FRAUD FEARS
July 21st, 2023
Britain’s Barclays Bank has won a UK Supreme Court appeal, with justices saying that UK banks must act on all customer instructions and not be liable should a payment be fraudulent, such as being an authorised push payment fraud (APP) (1).
Long-time customer Fiona Philipp sued the bank in 2020 after she was conned into transferring GBP700,000 (USD906,000) to accounts in the United Arab Emirates (UAE) in an elaborate APP scam– the most prolific type of payment fraud in Britain.
She alleged Barclays had owed her a duty to ignore her instructions if they had ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.