Bank resisted pressure, offered minimal compensation to Katrina following $50,000 scam loss, leaving her to battle for recovery over a two-year period.

In the heart of Sydney, a 44-year-old woman named Katrina Qian found herself the victim of a sophisticated scam around Easter in 2023. The scam occurred shortly after Ms. Qian had moved to the city.

The scammer, posing as a government official, managed to gain access to Ms. Qian's HSBC account by requesting her HSBC mobile app name, user ID, and password. With this information, the scammer created a new account and used a HSBC Everyday Global Account to exchange Ms. Qian's money into British pounds. The money was then directed overseas.

In a panic, Ms. Qian contacted the bank's hotline after being told her money was not safe by the scammer. However, HSBC informed her that they were not liable for the loss as she had provided her passwords to the scammer.

Despite this, the bank offered a goodwill gesture of $9,500 to Ms. Qian. This offer came after a two-year battle for a refund, with Ms. Qian demanding full reimbursement. HSBC has refused to take liability for the loss.

The case has gained attention, with reports in The Sydney Morning Herald and Daily Mail. The bank was contacted for comment but has yet to respond. It's worth noting that Ms. Qian has multiple bank accounts, including HSBC, ANZ, Commonwealth Bank, and Bank of China.

Interestingly, another customer, Kieron Quinn, has criticised HSBC for their poor handling of a similar case. Mr. Quinn was defrauded of around $50,000 and only received a compensation of $9,500 after a two-year struggle for a refund.

Ms. Qian's ordeal serves as a reminder to be vigilant when it comes to online security, especially when dealing with financial institutions. It's crucial to ensure that all personal information is kept secure and to be wary of requests for sensitive data, even from those claiming to be from reputable organisations.

As the investigation into this case continues, we hope for a resolution that brings justice for Ms. Qian and a lesson for others to learn from this unfortunate incident.

Bank resisted pressure, offered minimal compensation to Katrina following $50,000 scam loss, leaving her to battle for recovery over a two-year period.