Mr Matt Bower

Matt Bower

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Banking

Three strikes and you're out – bank's duty to make inquiries of suspicious transactions
United Kingdom | 07 December 2018

A first-instance court recently considered the extent to which a bank's duty of care owed to its customers, co-existing in contract and tort, requires the bank to make inquiries of suspicious transactions in their bank accounts. The court found in favour of the bank on the basis of expiry of the relevant limitation period. This article focuses on the court's discussion, by way of obiter, of the bank's duty of care owed to its customers where suspicious transactions occur.