About 950 reports of unauthorised transactions were made to HSBC Australia between January 2020 to August this year.
Banking giant HSBC is being sued by Australia’s corporate regulator over alleged failures to protect hundreds of customers who lost tens of millions of dollars to scams.
The financial services regulator is also concerned HSBC Australia failed to promptly restore customers’ full access to their bank accounts after being scammed. It took 95 days on average for customers’ banking access to be restored, while one customer did not have full access restored for 542 days, ASIC has alleged.ASIC’s deputy chair Sarah Court is expected to address the media later in the morning.
The father-of-two was sitting in his car during a lunch break when he received a call from someone who introduced themselves as a member of HSBC’s fraud team. In May this year, HSBC offered Aaron a $1000 “goodwill payment”. Aaron rejected the offer and complained to the Australian Financial Complaints Authority. HSBC later said it would reimburse Aaron the entire stolen amount plus a $2000 goodwill payment, acknowledging “we could have responded in a timelier manner”.
“Getting me the money back was a relief, but I’m probably always going to be mentally scarred,” he said.
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