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FraudJuly 25 2023

UK Supreme Court ruling offers clarity for banks

The UK’s highest court’s decision is a relief for banks, but their vigilance to customer fraud is still essential, writes George Pizzey.
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UK Supreme Court ruling offers clarity for banksImage: Getty Images

On July 12, the Supreme Court delivered its judgment in Philipp v Barclays Bank UK PLC, addressing circumstances in which a bank can be held liable for failing to prevent a customer from being defrauded.

The judgment provided some much-needed clarity on the nature of the Quincecare duty and the obligations that banks owe to their customers when executing fund transfers.

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