Jeweler Sues Bank over $1.6m Cyber-Fraud
January 11, 23
(IDEX online) - A family jewelry business in the US is suing its bank after cybercriminals stole $1.6m from its accounts.
Joyce's Jewelry, in Pittsburgh, Pennsylvania, accuses PNC Bank, of failing to "keep its hard-earned money safe".
In a lawsuit filed in the US District Court in Pittsburgh it alleges the bank failed to notify it or freeze its four accounts when they were hacked.
The perpetrators struck after a Joyce's Jewelry employee mistakenly entered login details into a fake PNC Bank website.
The accounts were drained in a series of 11 wire transfers to accounts at Bank of America and JPMorgan in just over 20 hours, in May 2022, according to the Pittsburgh Post-Gazette.
PNC denies responsibility for the money lost and has filed a motion to dismiss the lawsuit.
The bank said: "While PNC regrets any losses incurred by a customer, we disagree with the allegations in this case and believe we acted appropriately with respect to the transactions."
Pic, courtesy Google Street View, shows Joyce's Jewelry. There is a PNC Bank branch right across the road.