Bank not liable after pin given to "carer"...

The Banking Ombudsman has rejected a claim from an elderly and frail customer who was fleeced of $60,000 by their carer after sharing their card and pin.

The carer was supposed to buy some items for the customer, but over many months spent an additional $60,000 on themselves.

The Ombudsman held that the customer had breached their agreement with the bank by sharing their pin.  The bank is not obliged to monitor transactions and had no way to know that the transactions were not done by the customer.  Additionally the customer could have prevented much of the loss by checking their bank statements and noticing the thefts.

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Alan Knowsley