So you have been conned into sending money to the wrong bank account.
It's easier than you think. You receive an email from your accountant asking for payment. What you don't realise is that your accountants' email has been hacked.
The Banks, backed up by the FCA, are washing their hands of all liability for this type of fraud.
But are they right to do so?
On the face of it, you may think so but this article makes some contrary arguments that are worth noting.
My point all along is this: banks cannot afford the bad PR that is the truth of it - they need to forget about the technical arguments as to where blame should lie, and look at the bigger picture. Sooner the better.
When Bristol resident Sarah Neville got an email from her carpenter saying that he’d had a cancellation and he could start her long-discussed home renovations, it didn’t arouse the slightest suspicion. Emails had gone back and forth, and when he asked her to pay a £1,500 deposit she quickly went online and made the payment direct into his bank account. It was only when he failed to turn up that the truth emerged – his email had been hacked and the bank account into which she had paid the money wasn’t his.