Tag: Moorwand

A July 2023 Supreme Court ruling (Philipp v Barclays) narrowed the classic Quincecare duty, but a May 2025 High Court judgment against FCA-regulated Moorwand Ltd shows that APP fraud can still trigger Quincecare-style liability where a payment institution’s own onboarding and monitoring failures put it “on inquiry.” Expect tougher civil suits, regulatory heat, and capital-flight risk for fintechs that keep “flexible” KYC in high-risk verticals.

The recent High Court ruling in the UK against Moorwand Ltd marks a watershed moment in the fight against authorised push payment (APP) fraud in the UK. The judgment held the FCA-regulated e-money institution liable for failing to prevent fraudulent transfers, reinforcing the application of the Quincecare duty to modern payment service providers.