The Supreme Court last year closed the door on claims against banks that receive clear instructions from their customers to transfer funds, even though those customers are the victims of an APP frauds (Philipp v Barclays Bank [203] UKSC 25). Where a bank’s customer is the victim of an APP fraud, the bank’s duty to […]
Category: Legal Update
Hedging and speculation
The Venezia Appeal On 8 November 2022, we reported on the first instance decision of Foxton J in Banca Intesa SanPaolo v Comune di Venezia. The Court of Appeal has now reversed that decision ([2023] EWCA Civ 1482). This article will respectfully suggest that the Court of Appeal reached the wrong decision because it misunderstood […]
APP Scams – redress for the victim
The fact pattern is depressingly familiar: Party A owes money to Party B for goods or services. A fraudster, whether by hacking the emails of A or B or otherwise, manages to present an invoice to A with B’s account details revised so that when A pays, the money goes to an account held by […]