Bank told to pay for card fraud
Print Edition
A bank whose client had his card fabricated and about 65,000 yuan (US$9,405) stolen from his account, should pay for the loss, according to Shanghai No.2 Intermediate People’s Court.
The court said the bank, which was not named in court, had failed to protect the client’s account.
The client, surnamed Wei, placed his savings on a debit card. He activated the online banking service but didn’t apply for the SMS alert service for transactions.
As a result, he was unaware that a fraudster far away in Guangdong Province had used a fake card to withdraw more than 65,000 yuan from his account on April 25, 2014. He only realized what had happened when the bank notified him with a statement the following month.
He defended himself by showing records that he had just used his card to take 300 yuan from an ATM in Shanghai just 17 minutes before the money was taken in Guangdong. The bank had failed to recognize the transaction was made by using a fake card, he said.
The court ordered the bank to pay for the total loss.
“Once a client opens an account, the bank has the responsibility to ensure the safety of his account,” said Zhu Changyun, presiding judge from the sixth civil division of the court.
The bank had violated the contract, the judge said.
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