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santander uk wins legal battle over push payment fraud lawsuit

Santander UK successfully dismissed a lawsuit claiming banks have a duty to recover funds lost in authorized push payment (APP) fraud. The High Court ruled that banks are not obligated to take action to reverse harm caused to third parties, citing the potential burden on financial institutions. This decision follows a similar case against Barclays, where the Supreme Court acknowledged a possible duty but ultimately limited the scope of such claims.
reuters.com
British Pound Sterling Banco Santander, S.A. Barclays PLC GBR Jennifer Eady
Regulatory & Legal, News Article
16:38 25.03.2025

santander uk wins case over push payment fraud lawsuit dismissal

Santander UK successfully dismissed a lawsuit claiming banks have a duty to recover funds lost to push payment fraud. The High Court ruled that banks are not obligated to take action on behalf of non-customers, highlighting the potential burden this would place on financial institutions. The case stemmed from a £415,000 fraud involving CCP Graduate School, which had previously seen its lawsuit against Natwest also dismissed.
MarketScreener
British Pound Sterling Banco Santander, S.A. Barclays PLC NatWest Group plc GBR Jennifer Eady Show more
Regulatory & Legal, News Article
16:36 25.03.2025
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