Gerber v PSG Wealth Financial Planning (Pty) Ltd (36447/2021)
Gerber v PSG Wealth Financial Planning (Pty) Ltd (36447/2021) [2023] ZAGPJHC 270 (23 March 2023)
The court found that the defendant was contractually obliged to protect the plaintiff against fraud, including cybercrime, by employing effective procedures and technological systems. The defendant failed to establish a tacit term excluding liability where the plaintiff's system was hacked, as such a term would undermine the express contractual protections. The defendant ignored its own verification protocols and proceeded with payments despite clear indications of risk and anomalies in the account verification process. The plaintiff had no duty to prevent hacking, and there was no evidence o…
Source excerpt
- Contractual Liability
- Cybercrime
- Business Email Compromise
- Fraud Prevention
- Tacit Terms
- Estoppel