Bud’s Goods and Provisions in Abington is holding HSBC Bank responsible for $459,000 that was sent to an online scammer.
According to Worcester Superior Court records Chief Executive Officer Alex Mazin fell victim to a business email compromise scam. The complaint alleges that a scammer, Lam Yan Wun Merton, impersonated a vendor M. Holland and Son’s Construction Inc. by using a similar email address to provide Bud’s Goods with wiring instructions to make the $459,153.06 payment.
Merton used HSBC Bank to facilitate the payments. Bud’s Goods believes HSBC bank had a responsibility and duty to take appropriate action and failed to prevent their accounts from being used in a manner that facilitates frauds that steal money.
Read the full story from Patriot Ledger: https://www.patriotledger.com/story/news/2022/01/19/abington-pot-shop-sues-hsbc-bank-after-losing-459-k-oversea-scammer/6517257001/