You get one digit wrong on the sort code, and send a huge amount of cash to the wrong person. Teich had given his correct name, address and Barclays account number in Cambridge to his solicitor – but the wrong sort code. At the moment, anyone wanting to transfer money is asked for the recipient’s account name, account number and sort code. A recipient’s name could be given as Mickey Mouse and the bank would still process the payment, using the sort code and account number alone. Only then did he discover he had given the solicitor the wrong sort code.

Source: The Guardian December 07, 2019 07:52 UTC