Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in.
No one will argue that authorised push payment fraud victims don't deserve justice, but which parties are liable for making it right? In the United Kingdom, many cases have passed through the courts, setting precedents for handling such incidents, with ramifications for banks, third parties and victims at both ends of these transactions.
UK Supreme Court ruling offers clarity for banks thebanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thebanker.com Daily Mail and Mail on Sunday newspapers.
In the much-anticipated decision of Philipp v Barclays Bank UK PLC [2023] UKSC 25 (the “Decision”), the UK Supreme Court (the “Court”) rejected the contention that Barclays Bank UK Plc.