New York Court Protects Bank From Liability For Allowing Elderly Customer To Withdraw $467,000 By Wires To Fraudster

LexisNexis (January 25, 2019, 11:41 AM EST) -- We are now seeing more and more litigation where a bank allows its elderly or apparently incompetent customer to withdraw big bucks by wire transfers. Using a variety of defenses, depository banks are winning these cases on a motion to dismiss. The most recent case comes from New York....