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Barclays right not to pay out after couple scammed out of £700,000
Daily Record 20/01/2021 Emma Munbodh & Kirsten McStay
A woman who was conned into handing over £700,000 to a fraud investigation team , has lost every single penny - and her bank don t need to pay out.
Fiona Philipp transferred two sums of money from her Barclays bank account - one amounting to £400,000 and another £300,000 - to accounts in the United Arab Emirates back in 2018.
She and her husband were under the impression that they were helping a serious fraud investigation being run by the city watchdog, the Financial Conduct Authority (FCA).
However, the couple were defrauded, and, in a ruling today, a judge said Barclays is not liable to compensate for any losses.