Authorised Push Payment fraud is a significant and growing problem which has risen sharply since the start of the Covid-19 pandemic. In this type of fraud, customers are persuaded, often stealthily, to make payments to a bank account controlled by a fraudster and last year it caused the loss of nearly £500million to victims. In their article recently published in the Journal of International Banking and Financial Law, David McIlroy and Ruhi Sethi look at the current legal framework relating to APP fraud and the uphill battle faced by victims in seeking redress from their bank for the sums stolen.
Your can read their article “Prospects for bankers’ liability for authorised push payment fraud” here.
