Money Transfer by Authorised Push Payment (APP) Fraud: : Is the Bank Liable? / Akhileshwar Pathak.

Format:

Book

Author/Creator:

Pathak, Akhileshwar, author.

Series:

SAGE business cases.

SAGE business cases

Language:

English

Subjects (All):

Bank fraud--Law and legislation.

Bank fraud.

Physical Description:

1 online resource

Place of Publication:

London : SAGE Publications: SAGE Business Cases Originals, 2025.

Summary:

Dr Philipp was contacted by a fraudster posing on the phone as a government official undertaking a high-level criminal investigation of fraud in financial institutions. Persuaded by the fraudster, Dr Philipp transferred his life savings first to his wife's account in Barclays Bank and from there to two 'safe accounts' in the United Arab Emirates. A very large and unprecedented amount of money was deposited into Mrs Philipp's account and was later transferred to foreign accounts. On discovery of the fraud and the loss of the funds, Mrs Philipp made a claim on the bank to compensate the loss. Students will explore the principle that a bank acts as an agent of the customer in making transfers and has the duty to take reasonable care and skill in providing the service. Students will be asked to apply the agency principle to decide on the liability of the bank for the transfer induced by fraud.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781071979730

1071979736

OCLC:

1483993012