A family who lost more than $100,000 to scammers has taken another hit; having to pay interest on money stolen from your loan account.
Not only were the elderly Gold Coast couple robbed of $150,000 by online thieves, but their bank made a profit from the interest they were forced to pay.
His distraught son Charlie* told him news.com.au It was “basically extortion.”
He received a call from his parents, who were very concerned about an online interaction, and immediately went home to see if he could help.
The truck driver’s father had been tricked into downloading dangerous software onto his computer and thought criminals might have access to his bank account.
They disconnected his computer once they realized they had potentially made a terrible mistake and Charlie’s mother called the bank to freeze his accounts.
The bank employee told him there had been no transactions in his main savings account.
However, the staff member did not check his loan account, which was used by the criminals to steal the $150,000.
A family who lost more than $100,000 to scammers in a matter of minutes have been dealt another blow after they had to pay interest on money stolen from their account (file image)
“I don’t know if she’s stupid, inexperienced or not properly trained,” he said.
At the time, the bank had told the couple that their money was intact and the family was relieved.
However, the next day, Charlie thought he should double-check everything to make sure his parents’ money was safe.
Charlie managed to find an open branch on a Saturday where they gave him the news.
He said his parents were supposed to file a report with the bank’s financial crimes division, but had not been told to do so.
Charlie said the bank had “done nothing” to stop gangsters from robbing his parents the day before.
In just eight minutes, the criminals used the credit of the elderly couple to make several transfers.
Charlies said the bank manager gave him “the spin by saying ‘this happens all the time'”.
Charlie said the staff member did not check his loan account, which was used by the criminals to steal the $150,000 (file image).
To make the desperate situation even worse, his parents were charged 6.9 percent interest on the $150,000 stolen from their loan account.
The bank refused to pay any compensation, saying it was all Charlie’s father’s fault.
He also maintained that, having been contacted outside normal business hours, he could not freeze the accounts.
The initial call from Charlie’s mother was made shortly after 4 p.m.
The couple was also blamed for having a $10 million spending limit on their account, which Charlie said wasn’t the case, but they couldn’t refute it.
A lawyer sent legal letters on behalf of the family, but the bank did not respond to any correspondence, so the couple took their case to the Australian Financial Complaints Authority (AFCA).
They finally got somewhere and reached an agreement with the bank, which must remain confidential since the couple signed a non-disparagement clause.
Charlie said the bank settled because his parents’ lawyer reviewed previous AFCA cases and found one in which customers who had been robbed had received a full refund.
*Name changed