Man wins compensation for bank losses
Print Edition
A Chinese-American man who had 430,000 yuan (US$66,000) stolen from his bank account while he was in the United States has been awarded compensation to cover the lost funds plus interest, Changning District People’s Court said yesterday.
The court ruled that the bank should carry the blame for the theft because it “should ensure the security of customers’ accounts.”
The man, surnamed Mao, applied for a debit card in Shanghai eight years ago but he returned to the US in November 2013. In February 2014 when he came back to China and wanted to use the money, he was told that the funds in his account were insufficient.
Then he found his money had been stolen. He checked the records and found that 428,000 yuan had been transferred via a POS machine in Nanchang, Jiangxi Province on December 1, 2013, and 2,200 yuan had been withdrawn from an ATM.
Mao reported the matter to police in Jiangxi and Shanghai, but the police probe showed that the identity of the involved POS terminal’s owner had not been verified and the video of the withdrawal from the ATM had been lost.
Mao filed a lawsuit against the bank and demanded a repayment with interest.
The bank said in court that all transactions made via bank cards require a password, so Mao must have leaked his private information or let someone else use his card.
Mao claimed he always kept the card with him and never allowed others to use it, and police said that they couldn’t prove he was lying about that.
The court said the bank had failed to make sure if the card used for the unauthorized transactions was forged and had not checked the signature of the card user.
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