NatWest Denies Blame In $5M Push Payment Fraud Suit

Law360, London (July 21, 2020, 6:18 PM BST) -- National Westminster Bank PLC has told a London court it did not fall short of its responsibilities after a Saudi engineering giant was tricked into sending $5 million to a bank account at one of its branches in south London.

The Royal Bank of Scotland Group division argued that it was "contractually obliged" to transfer money sent by a unit of Maire Tecnimont SpA after it allegedly fell victim to an authorized push payment scam on its customer's instruction, in High Court defense documents filed July 16.

NatWest admitted that as a result of the fraud, Tecnimont paid $5 million via...

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