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December 14, 2010

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Bank duped by ID fraudster told to pay victim

A LOCAL bank has been ordered to pay 48,000 yuan (US$7,207) compensation to a customer whose 200,000 yuan savings were cleared out by a fraudster using false ID.

The Luwan District People's Court ruled that the Shanghai branch of the Agricultural Bank of China was partly responsible as it failed to spot bogus identification offered by the conman.

The card holder was also found to be at fault for divulging card security information, as the swindler knew the correct password.

The plaintiff surnamed Wang, a financial professional, applied for a deposit card from the bank in March 2005 and deposited 200,000 yuan over the years that followed.

In late November 2009, a man turned up at the bank with a deposit card bearing Wang's number.

He said the card wouldn't work as the magnetic stripe was damaged and requested a replacement.

The bank clerk checked the man's ID card, which contained information matching that left by Wang.

Since the man could also provide the correct password for the card, the clerk issued him with a new card, the court heard. He then withdrew 200,000 yuan from the account.

Wang didn't know about the fraud until he tried to deposit money in December 2009.

Since no one was arrested for the theft, Wang sued the bank, arguing that it should cover his loss. Wang claimed that the bank was negligent.

The bank argued that in leaking his password the plaintiff was to blame.

The court ruled that the bank should bear some responsibility as its clerk had not checked the bogus card carefully.


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