Citibank Faces Lawsuit Over Failure to Protect Customers from Fraud

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 19 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 51%

Finance News

Citibank,Lawsuit,Fraud

A new lawsuit against Citibank alleges that the bank is not doing enough to protect its customers from fraud and does not assist them in recovering their money. The lawsuit gives hope to fraud victims, including Scott Jacobson, who had $121,000 fraudulently wired out of his account.

Scott Jacobson's lawsuit is the latest to allege Citibank isn't doing enough to protect its customers from fraud and doesn't help them get their money back if they are victimized.It's been almost three years since a Skokie man had his Citibank account emptied by scammers. According to his lawsuit, $121,000, held in a trust account for his disabled sister, was fraudulently wired out of his account in a span of days. He said Citibank told him there was nothing they could do.

"I had a personal banker. And I went in there. And I asked him about all this. He says, 'Well, you're going to have to get attorneys,'" said Jacobson. For years, Jacobson, Bonebrake and Noel Elfant have been fighting Citibank in court, arguing the bank didn't get the required approval from Jacobson for those international wire transfers.

Citibank Lawsuit Fraud Customers Money

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FDA Faces Lawsuit Over Blocking Use of Ivermectin for COVID-19 TreatmentA lawsuit has been filed against the FDA and HHS for their attempts to block the use of ivermectin for COVID-19 treatment. The FDA's campaign against ivermectin has been criticized for misleading the public about its effectiveness and safety.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Keller Williams faces potential-class-action lawsuit in San AntonioA real estate agent who formerly worked at the Austin-based brokerage is seeking $250 million in damages or an amount to be determined at trial.
Source: ExpressNews - 🏆 519. / 51 Read more »

Hermes faces US lawsuit over 'refusal' to sell Birkin bagFashionistas desperate to get their hands on an exclusive Birkin handbag are suing Hermes in California on grounds the company won't sell them one unless they buy other luxury products first.
Source: KJNBNews - 🏆 526. / 51 Read more »

Apple Faces Lawsuit Over Anti-Competitive PracticesThe US Justice Department has filed a lawsuit against Apple, accusing the company of anti-competitive practices. The lawsuit, backed by 16 states and the District of Columbia, focuses on the iPhone and claims that Apple designed it to keep users locked into its ecosystem. Critics argue that these practices stifle competition and result in higher prices and less innovation. Apple defends its practices, stating that they make the iPhone more secure and unique in the market. The company fears that the lawsuit could hinder its ability to innovate and create new technologies.
Source: PhoneArena - 🏆 322. / 59 Read more »

Apple Faces Antitrust Lawsuit for Anti-Competitive BehaviorThe Justice Department has filed an antitrust lawsuit against Apple, accusing the company of engaging in anti-competitive behavior to maintain its smartphone monopoly.
Source: KPIXtv - 🏆 443. / 53 Read more »

Luxury Retailer Hermes Faces Lawsuit Over Birkin Handbag SalesA new lawsuit accuses luxury retailer Hermes of violating antitrust law by making customers buy other goods in the store before being allowed to purchase a Birkin handbag. The lawsuit claims that only customers with a sufficient purchase history or profile are shown the coveted handbags in a private room.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »