On 12 July 2023 the Supreme Court handed down judgment in Philipp v Barclays Bank which concerned the nature and extent of the duty of a bank (whether within the wider “Quincecare” duty or in addition to that duty) to protect a customer against falling victim to an Authorised Push Payment (APP) fraud. The outcome was a resounding victory for the Bank on the main issue accompanied by a robust (and largely unfavourable) analysis of the bases on which the “Quincecare” duty had been set up 30 years ago; adopted on various occasions since then, and extended by the Court of Appeal in the instant case.
In March 2018 the customer lost £700,000 which she had (on the basis of false statements made to her by a sophisticated fraudster) transferred to two bank accounts in the UAE. Attempts to recall the sums when the fraud had been recognised were unsuccessful.
Please click on this link to read the full article by William McCormick KC
To read the recent Supreme Court Judgment please click on this link.