As it turned out, Hemi lost all $149,000, and he considered the bank should have done more to monitor his account and check the legitimacy of the company.
Our investigation
We told Hemi banks were under no general obligation to monitor customers’ account transactions to prevent them from making unwise decisions, and that it was a customer’s responsibility to check before making payments. In any event, the bank had, in fact, called Hemi to check on the first payment, even though it was under no obligation to do so.
Outcome
We could not uphold Hemi’s complaint.
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