A decision by Suncorp to deny a claim for a stolen car, relying on an exclusion in relation to theft arising from a private sale, has been upheld by the Australian Financial Complaints Authority (AFCA). AFCA says the customer, who cancelled the paperwork for the transaction after his bank rejected the false cheque given by the buyer, “likely” has a valid claim since the available information shows he has most probably suffered accidental loss due to the theft of the vehicle by a third party.
