Why you shouldn’t spend money that accidentally ends up in your bank account

It sounds a dream situation for some, but you could find yourself in hot water with the law if you spend money that’s landed in your bank account by mistake, a lawyer has warned.

The issue was thrown into the spotlight on 3AW Breakfast after it emerged one of the world’s biggest cryptocurrency trading platforms accidentally transferred $10.5 million to a Melbourne woman, instead of a $100 refund.

It took seven months for them to realise the error.

Justin Lawrence, partner with Henderson and Ball lawyers, told 3AW Breakfast the law was “pretty clear” when it came to spending money that wasn’t yours.

Press PLAY below to hear the laws explained