What is a knowing party to a fraud?
If a cheque is found to be fraudulent well after the end of the 6th working day after a cheque has been paid in, you are protected provided you are not a knowing party to a fraud. Each case would be looked at on an individual basis and the facts would be assessed against the evidence. If there is a dispute, you can seek redress through your bank or building society's own formal complaints procedure (the Banking Code sets out how to make a formal complaint); and ultimately you may refer a dispute to the Financial Ombudsman Service.