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Know your fraud: specific fraud risk rather than general red flags are needed to invoke the Quincecare duty

United Kingdom - June 21 2022 The Quincecare duty has made the news once again. We recently commented on RBS v JP SPC 4 & another [2022] UKPC 18 and Philipp v Barclays Bank PLC…

Nikolas Ireland, James Reid

The (un)regulated world of cryptocurrency: UK Government to recognise "stablecoins"

United Kingdom - May 30 2022 Since December 2021, UK organisations have been providing welcome safeguards for consumers dabbling in the unregulated world of cryptocurrency (as to…

Sheila Dines

The limit of Quincecare: Privy Council holds that banks do not owe a tortious duty of care to non-customers

United Kingdom - May 23 2022 In its recent judgment in RBS v JP SPC 4 & another [2022] UKPC 18 the Privy Council has provided an important insight into the scope of the…

Nikolas Ireland, James Reid

The Chancellor announces a £25 million “fraud squad” to recover £5 billion

United Kingdom - May 4 2022 The Chancellor, Rishi Sunak, has announced a new “fraud squad” to recover money stolen from the state-backed Covid Bounce Back Loan Scheme. It is…

Max Hobbs, Georgia O'Connor

Banks beware: broader application of the Quincecare duty?

United Kingdom - March 18 2022 The Court of Appeal suggests that banks may owe a duty to non-corporate customers that are victims of APP fraud not to process their direct payment…

Nikolas Ireland, James Reid