News / National
StanChart sued over $78000 unauthorised withdrawal
15 Dec 2018 at 04:20hrs | Views
THE Bulawayo Publicity Association (BPA) has taken Standard Chartered Bank of Zimbabwe (StanChart) to court for allegedly allowing unauthorised signatories to illegally withdraw more than $78 000 from its bank account.
BPA through its lawyers Webb, Low and Barry Law Firm, filed summons at the Bulawayo High Court citing Standard Chartered Bank of Zimbabwe as the defendant.
The association said StanChart negligently failed to verify the forged signatures of people who withdrew $$78 219 from its account over a period of four years.
"Between January 6, 2012 and November 2, 2016, unauthorised persons, using a forged signature of one of the authorised signatories, illegally withdrew funds in the sum of $$78 219 from the bank account of the plaintiff held by the defendant," said BPA lawyers.
The association said StanChart breached its contractual and statutory obligation by failing to verify the signature and allowed an unauthorised person to conduct several illegal withdrawals.
"In terms of section 15 of the Money Laundering and Proceeds of Crime Act, the defendant is required, among other risk management measures, to verify the identity of customers by means of an identity document as well as checking whether signatures of authorised persons match the signature being used to perform a transaction."
"The plaintiff made various demands to the defendant to reimburse them the money stolen through their negligence but no payment has been made," said BPA lawyers.
The association wants the bank to pay back the money with prescribed interest calculated from June 29, 2018 to the date of full and final payment including the legal costs.
StanChart has not yet responded to the summons.
In February this year, BPA lost $15 000 to a bookkeeper who forged signatures and withdrew the money.
Late last year, police said the bookkeeper Jackie Kennedy from Paddonhurst suburb was on the run and it has not yet been established if she had been apprehended.
Established more than 80 years ago, BPA provides personal information service to Inquirers about Bulawayo.
Its role is to market the city's tourism potential and attracting travellers to different destinations in surrounding districts.
BPA through its lawyers Webb, Low and Barry Law Firm, filed summons at the Bulawayo High Court citing Standard Chartered Bank of Zimbabwe as the defendant.
The association said StanChart negligently failed to verify the forged signatures of people who withdrew $$78 219 from its account over a period of four years.
"Between January 6, 2012 and November 2, 2016, unauthorised persons, using a forged signature of one of the authorised signatories, illegally withdrew funds in the sum of $$78 219 from the bank account of the plaintiff held by the defendant," said BPA lawyers.
The association said StanChart breached its contractual and statutory obligation by failing to verify the signature and allowed an unauthorised person to conduct several illegal withdrawals.
"In terms of section 15 of the Money Laundering and Proceeds of Crime Act, the defendant is required, among other risk management measures, to verify the identity of customers by means of an identity document as well as checking whether signatures of authorised persons match the signature being used to perform a transaction."
The association wants the bank to pay back the money with prescribed interest calculated from June 29, 2018 to the date of full and final payment including the legal costs.
StanChart has not yet responded to the summons.
In February this year, BPA lost $15 000 to a bookkeeper who forged signatures and withdrew the money.
Late last year, police said the bookkeeper Jackie Kennedy from Paddonhurst suburb was on the run and it has not yet been established if she had been apprehended.
Established more than 80 years ago, BPA provides personal information service to Inquirers about Bulawayo.
Its role is to market the city's tourism potential and attracting travellers to different destinations in surrounding districts.
Source - zimpapers
