The Australian Securities and Investment Commission (ASIC) lodged a claim against HSBC Bank Australia in relation to 950 reports totalling A$23 million.

South China Morning Post

Hong Kong

HSBC’s unit sued in Australia for laxity in preventing online scams

About 950 reports of unauthorised transactions were made to HSBC Australia between January 2020 and August this year.

Media Bias/Fact Check

Sydney Morning Herald

Nine Entertainment Co.

Sydney

New South Wales

Australia

Banking giant sued by ASIC after customers allegedly scammed of $23 million

Ad Fontes Media

All Sides

Alibaba Group

The corporate watchdog is suing banking giant HSBC over a scam that netted $23 million, alleging it failed to protect 950 Australian customers.

ABC Australia

Australian Government

ASIC to sue HSBC over 'spoofing' scam

The Australian Securities and Investments Commission (ASIC) has lodged a claim against HSBC’s Australian arm in the Federal Court, with allegations the bank failed to protect customers from scammers.

News

Murdoch family

Bank sued, customers scammed out of $23m

Bank allegedly failed to correctly respond to about 950 reports of customers losing close to a million dollars or more.

The Straits Times

Singapore Press Holdings

Singapore

Australia takes HSBC to court over neglecting scam victims

Australia’s corporate regulator has taken legal action against a major international bank for allegedly failing to protect customers from scams.
On Dec. 16, the Australian Securities and Investments Commission (ASIC) announced that it had filed a lawsuit against HSBC Australia in the Federal Court.
ASIC alleged that HSBC Australia did not have a proper system to prevent and detect unauthorised payments between Jan. 1, 2023, and June 1, 2024.
It …

The Epoch Times

Epoch Media Group

New York

United States

HSBC Australia Sued Over Alleged Failure to Prevent $23 Million Scam Losses

The Australian Securities and Investment Commission claims HSBC's failures led to $23 million lost over four years.

SBS News

HSBC sued for failing to protect customers from scams

The corporate watchdog says the bank was aware of the scams but failed to take action quickly enough to protect customers.

7NEWS Australia

Kerry Stokes

ASIC sues major bank after customers scammed of $23 million in five years

The Australian arm of one of the world's biggest banks is in the firing line for allegedly failing to protect customers from scams.HSBC Australia is being sued by ASIC in a landmark case over claims it did not adequately shield customers from being scammed out of millions of dollars."This is the first case of its kind taken by ASIC. We allege HSBC's failures were widespread and systemic," ASIC deputy chair Sarah Court told media today.READ MORE:…

9News

One of Australia's biggest banks sued over scams in landmark case

ASIC sues HSBC Australia for failing to protect customers from scams.

Seeking Alpha

HSBC faces lawsuit by Australian regulator over alleged bank scam loss failures

Business

Asia

Oceania

Sydney, Australia

Australia Economy

Asian Economy

Canberra CityNews

Business News

The Standard

Business Times

Automobile News and Trends - You must read this !

PYMNTS.com

Finance Magnates | Financial and business news

Regulation Asia

finews.asia

Fintech Singapore

LeapRate

星島頭條網

Plato. Vertical Search. Ai. | PlatoAiStream. Data Intelligence. Vertical Search. Ai.

HSBC’s unit sued in Australia for laxity in preventing online scams

Coverage Details

Give the gift of Perspective

Bias Distribution

Ownership

Similar News Topics

Similar News Topics