Banking Fraud and Estate Administration – The Case That Put Banks on Notice
In a landmark judgment delivered by the Western Cape High Court recently, the court made it clear that banks cannot escape liability when they pay estate funds to the wrong person, even when that person presented themselves as the lawfully appointed executor of a deceased estate. The case of Turner NO v Standard Bank of […]
Who is held responsible for payments lost due to cybercrime?
This is exactly what happened in Fourie v Van der Spuy and De Jongh Inc. and others. The First Respondent was a law firm and the Second and Third Respondents were practising Attorneys. The Applicant claimed payment of R1 744 599.45 from the Respondents. The First Respondent had a mandate to deal with money paid […]